The ledger of a company contained the following account balances on December 31:

Accounts Payable	$	15,200		Fees Income	$	190,000
Accounts Receivable		6,800		Supplies		5,200
Accumulated Depreciation		10,000		Prepaid Rent		66,000
Cash		92,000		Rent Expense		10,000
Depreciation Expense		10,000		Supplies Expense		9,200
Equipment		80,000		Teresa Davis, Capital		138,400
Teresa Davis, Drawing		58,000		Utilities Expense		16,400

All the accounts have normal balances. Prepare the December 31 closing entries.