On December 31, the ledger of Davis Company contained the following account balances: Accounts Pavable Accounts Receivable Accumulated Depreciation Cash Depreciation Expense Equipment Teresa Davis, Drawing $14,200 6, 300 9,000 87,000 9,000 75,000 55, 500 Fees Income Supplies Prepaid Rent Rent Expense Supplies Expense Teresa Davis, Capital Utilities Expense $185,006 4, 700 63,500 9,500 8,700 126,900 15,90e All the accounts have normal balances. Prepare the closing entries for Davis Company On December 31 Record entry to transfer fees income to income summary Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry to transfer expenses to income summary. Note: Enter debits before credits. Debit Credit Date General Journal Dec 31 Record entry to transfer net income or net loss from income summary to capital. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry to transfer drawings to capital account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31