Please assist Never Gonna Dance Again Productions with their closing process by completing the journal entries necessary, for the partial account list provided in below Debit CreditIndicate how the account is classified: $45,000 Account Name Accounts Receivable Supplies Expense Advertising Expense Utilities Payable Cash Common Stock Inventory Interest Revenue Acc. Depreciation- Building Notes Payable Patents Depreciation Expense Retained Earnings Salaries Expense Building Sales Revenue Utilities Expense Office Supplies Interest Expense Salaries Payable Permanent Temporary Permanent Permanent Permanent Permanent Permanent Permanent Permanent Temporary Temporary Temporary Temporary Temporary Temporary Temporary $4,550 $48,000 $75,000 $135,675 $5,000 $45,000 $12,000 $10,000 |Permanent Temporary $35,000 Permanent Permanent Permanent Permanent Permanent Permanent Permanent Permanent Temporary Temporary Temporary Temporary Temporary Temporary Temporary Temporary Temporary Temporary Temporary Temporary Temporary Temporary $18,000 $7,000 $87,550 $82,000 $225,300 $315,000 $11,000 $13,700 $1,000 Permanent Permanent Permanent Permanent Permanent $123,000 Cost of Goods Sold Expense Accounts Payable Dividends 117,840 $38,450 $27,750 Please complete all of the necessary journal entries for closing. Then post the entries to Retained Earnings to update the account balance