On December 31, 20X1, the ledger of Lopez Company contained the following account balances: Cash Accounts receivable Supplies Equipment $32,600 Maria Lopez, Drawing $13,100 2,700 Fees income 1,900 Depreciation expense 51,750 2,550 25,600 Salaries expense 16,600 Accumulated depreciation Accounts payable 2,300 Supplies expense 2,800 Telephone expense 2,800 2,400 Maria Lopez, Capital 47,850 Utilities expense 4,450 All the accounts have normal balances. Prepare the closing entries for the above transactions. View transaction list 1 Record the closing entry for revenue. 2 Record the closing entry for expenses. 3 Record the closing entry for the balance of income summary. 4 Record the closing entry for the drawing account. Note: journal entry has been entered Record entry X Credit Clear entry View general journal