9 At the beginning of the 2018, the company's 1/1/2018 trial balance was as follows: 10 11 Number 100 Cash Title Debit Credit $ 450,000,000 12 110 Accounts Receivable $ 33,000,000 13 115 Allowance For Bad Debts $ 1,240,000 14 120 Inventory $ 12,345,000 15. 135 Accumulated Depreciation $ 72,422,000 16 17 67 18 140 Equipment 160 Buildings 170 Land $ 105,000,000 $ 1,000,000 $ 2,567,000 19 180 Patents $ 80,000 20 185 Accumulated Amortization $ 50,000 21 200 Accounts Payable $ 70,050,000 22 300 Common Stock $ 120,000,000 23 310 Additional Paid In Capital $ 267,000,000 24 340 Retained Earnngs $ 73,230,000 25 $ 603,992,000 $ 603,992,000 26 Instructions: Prepare the closing journal entries for Pane Company. Once you have recorded the journal entries, post them to the "T-Accounts - Closing" tab. Journal Entries Account Name C1 BBB Dr. Sales Revenue Dr. Rent Revenue Dr. C2 Interest Revenue Cr. Salaries Expense Cr. Utilities Expense Cr. Cr. Cr. Cr. Cr. Cr. Cr. To close the income statement accounts Dr. Cr. To close the Dividends account Check figures: Total debits should equal total credits. DR CR Remember: yo should Difference D E F G H 1 K L Instructions: The balances in your "T-Accounts" tab have been automatically brought into your closing T-Accounts. Post the closing journal entries in your T-Accounts here to close your temporary accounts to zero and to calculate the ending balance in retained earnings 340-Retained Earnings 73,230,000 73,230,000 405 Rent Revenue 31,500 General Ledger 400-Sales Revenue 65,421,000 65,421,000 410-Interest Revenue 18,000 18,000 31,500 415-Loss on Sale of Equipment 7,000 500-Cost of Goods Sold 510-Depreciation Expense 19,600,000 2,556,000 19,600,000 2,556,000 518-Amortization Expense 3,000 520-Bad Debt Expense 1,478,790 540-Salaries Expense 8,750,000 3,000 1,478,790 8,750,000 560-Insurance Expense 599-Income Tax Expense 600- Dividends 20 000 518-Amortization Expense 3,000 3,000 560-Insurance Expense 20,000 20,000 520-Bad Debt Expense 1,478,790 1,478,790 540-Salaries Expense 8,750,000 8,750,000 599 Income Tax Expense 2,000,000 600-Dividends 8,000 2,000,000 8,000