Part IV: Closing Journal Entries The company has these balances in the income statement accounts at the end of 2018: $500,000 credit balance $350,000 debit balance $70,000 debit balance Sales Revenue Cost of Goods Sold Expense Salaries Expense Gain on Sale of PPE $2000 credit balance Income Tax Expense $17,000 debit balance Please prepare the closing journal entry necessary debit credit 12-31-18