The following is an adjusted trial balance for Tinker Hotel:

		Tinker's Motel
		Adjusted Trial Balance
		December 31, 2020
Cash					$	15,900
Supplies						3,400
Accounts Receivable				8,000
Furniture						100,000
Accumulated Depreciation, Furniture					20,000
Building						250,000
Accumulated Depreciation, Building					140,000
Accounts Payable							6,090
Mortgage Payable							57,900
Tinker Bell, Capital							81,000
Room Revenue							219,000
Wages						43,800
Utilities Expense					19,710
Insurance Expense					15,330
Supplies Expense					32,850
Depreciation Expense				35,000
					$	523,990		523,990

REQUIRED

1. Prepare journal entries to close the revenue and expenses accounts to the Income Summary Statement
2. Prepare the journal entry to close the Income Summary account to the Owner Equity account.