On December $31,20$X$1,$ the Income Statement columns of the worksheet for The Sax Shop contained the following information. Journal entry worksheet

Record the closing entry for revenue and other credit items.

Note: Enter debits before credits. $1$

$2$

$3$

$4$

Record the closing entry for expenses and other debit items.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$Dec $31,20$X$1,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

View general journal Journal entry worksheet

Record the closing entry for the balance of income summary.

Note: Enter debits before credits.Journal entry worksheet

Record the closing entry for the drawing account.

Note: Enter debits before credits.

Assume further that the owner of the firm is Mark Fronke and that the Mark Fronke, Drawing account had a balance of $$26,300$ on

December $31,20$X$1.$

Prepare the entries that should be made in the general journal to close the revenue, cost of goods sold, expense, and other temporary

accounts.