ACCT 301 LEC Chapter 6 Assignment 15 7 Help Save & Exit Submit Check my work On December 31, the Income Summary account of Ballon Company has a debit balance of $222.000 after revenue of $234,000 and expenses of $456.000 were closed to the accent Kenneth Ballon, Drawing has a debit balance of $24,000 and Kenneth Ballon Capital has a credit balance of $348,000 Required: 1. Record the journal entries necessary to complete closing the accounts 2. What is the new balance of Kenneth Ballon, Capital? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the journal entries necessary to complete closing the accounts Graw Journal entry worksheet Record the closing entry for the balance of income summary 5 < Prev 78 Next > tv