Selected accounts for Winslow Inc. as at December 31, 2017, are as follows:

Instructions
Prepare closing entries for Winslow Inc. on December 31, 2017.

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Inventory FV-NI Investments FV-OCI Investments Retained Earnings Dividends Accumulated Other $5,000 2,000 222,700 31,000 30,000 3,000 $60,000 Sales Discounts 22,000 Sales Returns and Allowances 11,000 Cost of Goods Sold 5,000 Administrative Expenses 18,000 ncme Tax Expense Investment Income Unrealized Gain or Loss-oCI Comprehensive Income Sales Revenue 17,000 390,000 (Note: debit balance) 1,500