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

Dat	e	Description	Post Ref.	Debit	Credit