Answer and Explanation:
The journal entries are shown below:
For step 1
Fees Income $ 4,900
To Income Summary $4,900
(Being revenue account is closed)
For step 2
Income Summary $2,500
To Rent Expense $1,300
To Advertising expense $1,000
To Supplies expense $200
(Being Expense account is closed )
For step 3
Income Summary ($4,900 - $2,500) $2,400
To Johnson`s Capital $2,400
(Being transfer net income to capital is recorded)
For Step 4
Johnson`s Capital $300
To Johnson`s Drawings $300
(Being closing of drawings to capital account is recorded)