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On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following information Debit Credit $ 38,900 $ 42,289 256,000

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On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following information Debit Credit $ 38,900 $ 42,289 256,000 4,050 3.050 134.700 2,350 Income Statement Section Inco Summary Sales Sales Returns and Allowances Sales Discounts Interest Income Purchases Freiht In Purchases Returns and Allowances Purchases Discounts Rent Expense Utilities Expense Telephone Expense Salaries Expense Payroll Taxes Expense Supplies Expense Depreciation Expense Interest Expense Totals 8,650 2,960 1,578 66,400 5.300 1.730 2.650 378 $ 272,680 $302,095 Assume further that the owner of the firm is John Capeletti and that the John Copelerri, Drawing account had a balance of $26,350 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 list Journal entry worksheet

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