k Figure ut income is $55,342.15 Objective: To journalize closing entries from account balances As of December 31, 20X1, the ledger of Verna Reardon, MD, contained the following adjusted balances: Account Balance Verna Reardon, Capital $57,304.25 Verna Reardon, Drawing 36,000.00 Medical Fees 80,205.00 Rent Expense 12,000.00 Medical Supplies Expense 2,455.80 Office Supplies Expense 1,235.90 Depreciation Expense-Equipment 3,000.00 Utilities Expense 5,445.35 Miscellaneous Expense 725.80 Directions: Prepare closing entries in general journal form