On December 31, 2019, the ledger of Lopez Company contained the following account balances:

Cash	$	31,100	Maria Lopez, Drawing	$	11,600
Accounts Receivable		1,950	Fees Income		44,250
Supplies		1,150	Depreciation Expense		1,800
Equipment		24,100	Salaries Expense		15,100
Accumulated Depreciation		1,550	Supplies Expense		2,050
Accounts Payable		2,050	Telephone Expense		1,650
Maria Lopez, Capital		46,350	Utilities Expense		3,700

Prepare the closing entries for the above transactions.

1.Revenue

2. Expenses

3. Balance of income summary

4. The drawing account