From the data below for the Sorta Company, prepare the closing entries for the year ended December 31, 20--.

Cash dividends	$105,000
Sales	987,000
Sales returns and allowances	5,200
Interest revenue	3,700
Factory overhead (debit)	205,300
Factory overhead (credit)	205,300
Cost of goods sold	674,200
Wages expense	112,000
Supplies expense	5,300
Depreciation expenseoffice equipment	4,200
Utilities expense	5,700
Bad debt expense	1,300
Advertising expense	6,300
Interest expense	4,700
Income tax expense	61,950

GENERAL JOURNAL				Page 1
Date		Description	Post Ref.	Debit	Credit