1. a) Bowler Ltd's financial year- end is December 31. The following is a partial adjusted trial balance as of December 31, 2018. Credits Account Title Retained earnings Debits 80,000 Sales revenue 750,000 Interest revenue 3,000 Cost of goods sold 420,000 Salaries expense 100,000 Rent expense 15,000 Depreciation expense 30,000 Interest expense 5,000 Insurance expense 6,000 Required: Prepare the necessary closing entries at December 31, 2018. (14 marks)