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On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following information Income Statement Section Income Summary Sales Debit

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On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following information Income Statement Section Income Summary Sales Debit Credit S 38,500 S 41,800 254,000 Sales Returns and Allowances Sales Discounts 3,850 2,850 Interest Income 165 Parchasen 134,300 2,150 Freight In Purchases Returns and Allowances Purchases Discounts 1,950 1,520 8,450 2,920 1,530 66,000 5,260 1,690 2,450 330 Rent Expense Utilities Expense Telephone Expense Salaries Expense Payroll axes Expense Supplies Expense Depreciation Expense 2nterest Expense 270,200 299,435 Totale Assume further that the owner of the firm is John Capeletti and that the John Capeletti, Drawing account had a balance of $26,150 on December 31, 2019 Prepare the entries thet should be made in the general journal to close the revenue, cost of goods sold, expense, and other temporary accounts Assume further that the owner of the firm is John Capeletti and that the John Capeletti, Drawing account had a balance of $26,150 on December 31, 2019 Prepare the entries that should be made in the general journal to close the revenue, cost of goods sold, expense, and other temporary accounts View transaction ist Journal entry worksheet

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