The following information is available for the Travis Travel Agency. After these closing entries what will be the balance in the Jay Travis, Capital account? 
Definitions:
Total Fixed Costs
The sum of all costs that remain constant regardless of the level of production or sales volume, encompassing items such as rent, salaries, and insurance premiums.
Variable Cost
Costs that change in proportion to the level of activity or volume of production.
Break-Even Point
The level of production or sales at which total costs equal total revenue, resulting in no net profit or loss.
Fixed Costs
Costs that remain constant in total regardless of changes in the level of production or sales volume.
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