On December 31, 20X1, the Income Statement columns of the worksheet for The Sax Shop contained the following information.

Income Statement ColumnsDebit Credit Income summary$37,800 $41,100 Sales 250,500 Sales returns and allowances 3,500 Sales discounts 2,500 Interest income 130 Purchases 133,600 Freight in 1,800 Purchases returns and allowances 1,600 Purchases discounts 1,450 Rent expense 8,100 Utilities expense 2,850 Telephone expense 1,460 Salaries expense 65,300 Payroll taxes expense 5,190 Supplies expense 1,620 Depreciation expense 2,100 Interest expense 260 Totals$266,080 $294,780

Assume further that the owner of the firm is Mark Fronke and that the Mark Fronke, Drawing account had a balance of $25,800 on December 31, 20X1.

Prepare the entries that should be made in the general journal to close the revenue, cost of goods sold, expense, and other temporary accounts.

Journal entry worksheet Record the closing entry for revenue and other credit items. Note: Enter debits before credits. Journal entry worksheet Record the closing entry for the balance of income summary. Note: Enter debits before credits. Journal entry worksheet Record the closing entry for the drawing account. Note: Enter debits before credits. Record the closing entry for expenses and other debit items. Note: Enter debits before credits