Okabe Company ended its fiscal year on July 31, 2017. The companys adjusted trial balance as of the end of its fiscal year is shown below.

OKABE COMPANY Adjusted Trial Balance July 31, 2017
No.		Account Titles		Debit		Credit
101		Cash		$9,900
112		Accounts Receivable		9,200
157		Equipment		16,100
158		Accumulated DepreciationEquip.				$7,400
201		Accounts Payable				4,900
208		Unearned Rent Revenue				1,700
301		Owners Capital				45,500
306		Owners Drawings		16,100
400		Service Revenue				65,000
429		Rent Revenue				6,400
711		Depreciation Expense		8,900
726		Salaries and Wages Expense		55,700
732		Utilities Expense		15,000
				$130,900		$130,900

Post to Owners Capital and Income Summary accounts. (Post entries in the order of journal entries presented in the previous part.)

Owners Capital				No. 301
Date	Explanation	Debit	Credit	Balance
July 31	BalanceClose Net Income/LossClose DrawingsClose RevenuesClose Expenses
July 31	Close RevenuesClose DrawingsClose ExpensesClose Net Income/LossBalance
July 31	Close ExpensesClose Net Income/LossClose DrawingsBalanceClose Revenues
Income Summary				No. 350
Date	Explanation	Debit	Credit	Balance
July 31	Close RevenuesClose DrawingsBalanceClose Net Income/LossClose Expenses
July 31	Close Net Income/LossClose DrawingsClose RevenuesClose ExpensesBalance
July 31	BalanceClose RevenuesClose ExpensesClose Net Income/LossClose Drawings