Blue Company has the following account balances: Sales Revenue $$228,300,$ Sales Discounts $$2,610,$ Cost of Goods Sold $$149,700,$

and Inventory $$58,800.$

Prepare the entries to record the closing of these items to Income Summary under the perpetual inventory system. $($List all debit entries

before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required,

select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

$($To close accounts with credit balances$)$

$($To close accounts with debit balances$)$

eTextbook and Media

List of Accounts