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1) Using the end-of-year account balances and items shown below, prepare the December 31 closing entries ( all 4 steps ). Please copy and paste

1) Using the end-of-year account balances and items shown below, prepare the December 31 closing entries (all 4 steps). Please copy and paste the blank table below into your answer field and type in the necessary information. Note that not all lines may be needed.

  • Interest receivable of $4,000
  • Shipping expense of $52,000
  • Sales revenue of $173,000
  • Loss on flood damage of $37,000
  • Inventory of $77,000
  • Dividends of $12,000
  • Additional paid-in capitalcommon stock of $63,000
  • Salaries and wages expense of $140,000

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