On December 31, 20x1, the ledger of Lopez Company contained the following account balances: Cash Accounts receivable Supplies Equipment Accumulated depreciation Accounts payable Maria Lopez, Capital $32,400 Maria Lopez, Drawing $12,900 2,600 Fees income 50, 750 1,800 Depreciation expense 2,450 25, 400 Salaries expense 16,400 2,200 Supplies expense 2,700 2,700 Telephone expense 2,300 47,650 Utilities expense 4,350 All the accounts have normal balances. Prepare the closing entries for the above transactions. View transaction list Journal entry worksheet