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Stylist Services Co. offers its services to individuals desiring to improve their personal images After the accounts have been adjusted at July 31, the end of the fiscal year the following balances were taken from the ledger of Styles Services Co $880,000 Marlena Fenton, Capital Marlena Fenton Drawing Fees Eamed Wages Expense Rent Expense Supples Expense Miscellaneous Experise 11.000 520,400 480.000 65,000 11 200 13.900 Required: Joumalize the two entries required to close the accounts Refer to the Chart of Accounts for exact wording of account is ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Prepaid Rent EXPENSES 14 Supplies 51 Wages Expense 52 Rent Expense LIABILITIES 53 Supplies Expense 21 Accounts Payable 54 Miscellaneous Expense 22 Wages Payable 23 Unearned Fees EQUITY 31 Marlena Fenton, Capital 32 Marlena Fenton, Drawing 33 Income Summary Journal Joumalize the two entres required to close the accounts Refer to the Chart of Accounts for exact wording of accounties PAGE 1 JOURNAL ACCOUNTING EQUATION DATE POST. REE DERIT CREDIT ASSETS LIABILITIES EQUITY DESCRIPTION Closing Entries 7