Prepare the required closing entries in journal form for the year ended December 31, using the following items from the Income Statement columns of a work sheet and assuming that withdrawals by the owner, T. Jameson, were7,000;

Account Name Debit Credit 35,860 Repair Revenue Wages Expense Rent Expense Supplies Expense Insurance Expense Depreciation Expense-Repair Equipment 13,260 2,800 6,390 1,370 3,020 26,840 35,860 2 Net Income 9,020 35,860 35,860