* Owl Sporting Goods Company reported the following data at July 31, 2021, with amounts in thousands (Click the loon to view the account balances) (Click the icon to view the statement of retained earnings.) (Click the loon to view the balance sheet) Maka the company's closing entries at July 31, 2021. Then set up a T-account for Retained Earings and post to that account. Compare Retained Earings' ending balance to the amount reported on Owl's statement of retained eamings and balance sheet, What do you find? Make the company's closing entries at July 31, 2021. (Record debits first, then credits. Exclude explanations from any joules) Begin by making the closing entry for revenues at July 31, 2021. Date 5 31 Journal Entry Accounts Now make the closing entry for expenses at July 31, 2021 Date 2 31 Journal Entry Accounts Debit Credit De Cred Set up a T-account for Retained Earings and post to that account. Record the beginning balance, post the closing anies, and calculate the ending balance of the Retained Earnings Taco