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 $31, 200 Maria Lopez, Drawing 2,000 Fees income 1,200 Depreciation expense 24, 200 Salaries expense 1,600 Supplies expense 2, 100 Telephone expense 46, 450 Utilities expense $11, 700 44, 750 1, 850 15, 200 2, 100 1, 700 3,750 All the accounts have normal balances. Prepare the closing entries for the above transactions. View transaction list Journal entry worksheet