Instructions Stylist Services Co. offers its services to individunis desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the final year, the following balances were taken from the ledger of Stylist Services Co.: Marlena Fenton, Capital Marlena Fenton, Drawing Fees Earned Wages Expense Rent Expense Supplies Expense Miscellaneous Expense $930,000 13,000 525,200 478,000 71,500 11,700 13,500 Required: Instructions Marlena Fenton, Capital Marlena Fenton, Drawing Fees Eamed Wages Expense Rent Expense Supplies Expense Miscellaneous Expense $930,000 13,000 525,200 478,000 71,500 11,700 13,500 Required: Journalize the two entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles Instructions Chart of Accounts CHART OF ACCOUNTS Stylist Services Co. General Ledger REVENUE 41 Fees Earned ASSETS 11 Cash 12 Accounts Receivable 13 Prepaid Rent 14 Supplies count titles EXPENSES 51 Wages Expense 52 Rent Expense 53 Supplies Expense LIABILITIES 41 Fees Earned Instructions Chart of Accounts 11 Cash 12 Accounts Receivable 13 Prepaid Rent 14 Supplies EXPENSES 51 Wages Expense 52 Rent Expense 53 Supplies Expense 54 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Wages Payable 23 Uneamed Fees EQUITY 31 Mariena Fenton, Capital Instructions Chart of Accounts LIABILITIES OZ Rent experise 53 Supplies Expense 54 Miscellaneous Expense 21 Accounts Payable 22 Wages Payable 23 Uneared Fees EQUITY 31 Marlena Fenton, Capital 32 Marlena Fenton, Drawing 33 Income Summary