Presented below are selected account balances for Nash Co. as of December 31, 2017. Inventory 12/31/17 Common Stock Retained Earnings Dividends Sales Returns and Allowances Sales Discounts Sales Revenue $59,720 Cost of Goods Sold 74,480Selling Expenses 45,730 Administrative Expenses 18,066 Income Tax Expense 12,144 15,250 $221,742 16,099 38,667 29,820 415,540 Prepare closing entries for Nash Co. on December 31, 2017. (Credit account titles are automatically in select "No entry" for the account titles and enter O for the amounts. No. Account Titles and Explanation Debit Credit 1. To close accounts with credit balances) 2