WOON Show Me How Assume that the entry closing total revenues of $279,000 and total expenses of $209,200 has been made for the year ending December 31. At the end of the fiscal year. Teresa Schafer, Capital has a credit balance of $32,000 and Teresa Schater, Drawing has a balance of $27,100. a. Journalize the entry required to close the Teresa Schafer, Drawing accounttf an amount box does not require an entry leave it. blank. Teresa Schafer capital 27.100 Teresa Schafer Drawing 27.100 Check My Work b. Determine the amount of Teresa Schafer, Capital at the end of the period. X Festa h similar to the Statement of Owner's Equity, the amount of Tinta Schafer Capital can be determined by the following equations Ending