On December 31, the ledger of Davis Company contained the following account balances: Accounts Payable Accounts Receivable Accumulated Depreciation Cash Depreciation Expense Equipment Teresa Davis, Drawing $14,880 6,688 Fees Income Supplies $188,88e 5,886 65,88e 9,880 9,886 133,88e 16, 286 9,68 Prepaid Rent 98,880 Rent Expense 9,686 Supplies Expense Teresa Davis, Capital Utilities Expense 78,80 57,888 All the accounts have normal balances. Prepare the closing entries for Davis Company On December 31. View transaction list Journal entry worksheet Record entry to transfer fees income to income summary. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal