PART 1: CLOSING ENTRIES FOR A MERCHANDISER: 10 POINTS An adjusted trial balance for a merchandiser is given below. Credit Debit $12,600 2,400 800 30,000 $4,200 1,000 800 10,000 3,800 Cash Accounts Receivable Prepaid Rent Merchandise Inventory Accounts Payable Salaries Payable Tax Payable Notes Payable Patel, Capital Patel, Withdrawals Sales Revenue Sales Discounts Forfeited Cost of Goods Sold Insurance Expense Salaries Expense Rent Expense Selling Expense Supplies Expense Total 1,000 96,000 400 23,000 2,400 21,000 14,000 8,500 500 $116.200 $116,200 Journalize the closing entries as of December 31, 2018 General Journal Post Date Description ref DR CR The ending balance of Patel, Capital would be