ply: Exercise 6 Help Save & Exit Sub On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following information Debit Credit $ 38,900 $ 42,200 256,000 4,050 3,050 185 134,200 2,350 2,150 Income Statement Section Income Summary Sales Sales Returns and Allowances Sales Discounts Interest Income Purchases Freight In Purchases Returns and Allowances Purchases Discounts Rent Expense Utilities Expense Telephone Expense Salaries Expense Payroll Taxes Expense Supplies Expense Depreciation Expense Interest Expense Totals 8,650 2,960 1.570 66,400 5,300 1,730 2,650 $ 272,680 $302,095 Assume further that the owner of the firm is John Capeletti and that the John Copeleri, Drawing account had a balance of $26,350 on December 31, 2019 Prepare the entries that should be made in the general Journal to close the revenue, cost of goods sold, expense, and other temporary 12:22 e to search pply: Exercise Help Save & Exit Sub Assume further that the owner of the firm is John Capeletti and that the John Capeleri, Drawing account had a balance of $26,350 on December 31, 2019 Prepare the entries that should be made in the general journal to close the revenue, cost of goods sold, expense, and other temporary accounts View transaction list Journal entry worksheet 2 3 4 Prepare the closing entry for revenue and other credit items. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2019