On December 31, 20X1, the Income Statement columns of the worksheet for The Sax Shop contained the following information. Income Statement Columns Income summary Sales Sales returns and allowances Sales discounts Interest income Purchases Freight 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 Debit Credit $ 38,300 $ 41,600 253,000 3,750 2,750 155 134,100 2,050 1,850 1,500 8,350 2,900 1,510 65,800 5, 240 1,670 2,350 310 $ 269,080 $ 298,105 Assume further that the owner of the firm is Mark Fronke and that the Mark Fronke, Drawing account had a balance of $26,050 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. No Date Debit Credit 1 Dec 31, 20X1 General Journal Sales Interest income Purchases returns and allowances Purchases discounts Income summary 2 Dec 31, 20X1 Income summary Sales returns and allowances Sales discounts Purchases Freight in Rent expense Utilities expense Telephone expense Salaries expense Payroll taxes expense Supplies expense Depreciation expense Interest expense 3 Dec 31, 20X1 Income summary Mark Fronke, Capital 4 Dec 31, 20X1 Mark Fronke, Capital Mark Fronke, Drawing