On December 31, 2016, the Income Statement section of the worksheet is shown below. The balance of Ally Logan's drawing account is $30,000. INCOME STATEMENT COLUMNS ACCOUNT NAME DEBIT CREDIT Income Summary $ 61,000 $ 67,000 Sales 240,000 Sales Returns and Allowances 5,900 Interest Income 740 Purchases 85,000 Freight In 3,700 Purchases Returns and Allowances 2,700 Purchases Discounts 3,300 Sales Salarles Expense 51,000 Office Salarles Expense 19,900 Office Supplies Expense 840 Utilities Expense 4,900 Payroll Taxes Expense 2,500 Uncollectible Accounts Expense 2,600 Depr. Expense - Office Equipment 800 Totals Net Income 238,140 75,600 313,740 $313,740 $ 313,740 Prepare the closing entries that should be made in the general journal. Journal entry worksheet Record entry to transfer net income to capital account. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2016 Record entry Clear entry View general Journal Journal entry worksheet