On December 31, 2013, the ledger of Davis Company contained the following account balances:
Cash | $32,000 | Mesia Davis, Drawing | $25,000 |
Accounts Receivable | 2,400 | Fees Income | 48,750 |
Supplies | 1,600 | Depreciation Expense | 2,250 |
Equipment | 25,000 | Salaries Expense | 16,000 |
Accumulated Depreciation | 2,000 | Supplies Expense | 2,500 |
Accounts Payable | 2,500 | Telephone Expense | 2,100 |
Mesia Davis, Capital | 47,250 | Utilities Expense | 4,150 |
All the accounts have normal balances. Journalize the closing entries. Use 4 as the general journal page number.
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