Metlock, Inc. has the following account balances: Sales Revenue $$220,800,$ Sales Discounts $$2,810,$ Cost of Goods Sold $$133,000,$ and Inventory $$46,700.$

Prepare the entries to record the closing of these items to Income Summary. $($Credit account titles are automatically indented when amount is entered. Do not indent mitually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

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

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