The partial worksheet for the Jamison Company showed the following data on October 31, 2019.

	INCOME STATEMENT				BALANCE SHEET
ACCOUNT NAME	DEBIT		CREDIT		DEBIT		CREDIT
Jason Jamison, Capital							33,500
Jason Jamison, Drawing					3,250
Fees Income			23,500
Salaries Expense	11,800
Rent Expense	1,350
Supplies Expense	750
Utilities Expense	850
Depr. Exp. Equip.	1,200
Totals	15,950		23,500		45,150		37,600
Net Income	7,550						7,550
	23,500		23,500		45,150		45,150

Prepare the closing entries for Jamison Company on October 31, 2019.

1. Record entry to transfer fees income to income summary

2. Record entry to transfer expenses to income summary

3. Record entry to transfer net income or net loss from income summary to capital

4. Record entry to transfer drawings to capital account