Presented below is income statement information of the Schefter Corporation for the year ended December 31, 2018. Sales revenue Salaries expense Interest revenue Advertising expense Gain on sale of investments Cost of goods sold Insurance expense Interest expense Income tax expense Depreciation expense Q View transaction list Required: Prepare the necessary closing entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) A Journal entry worksheet 1 Date Dec. 31, 2018 2 Note: Enter debits before credits. N-O Z Record the entry to close the revenue accounts using the income summary. 2 W S 3 #3 80 F3 X E $504,000 80,300 6,600 11, 250 8,900 277,200 13,850 4 D command 3,800 39,500 23,000 General Journal DOO DOD F4 R do LO % 5 F LL

Journal entry worksheet Record the entry to close the expense accounts using the income summary. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the income summary account. Note: Enter debits before credits. Presented belew is income statement information of the Scheffer Corporation for the yes ended Dectenoer 31,2018 Required: Prepare the necessary closing entries ar Decomber 31, 20s8. of no entry is required for a transactionlectmt, seiect "No journal antry required in the first account fields Journal entry worksheet Recore the entry to close the revenue bccounts ving the incente suritary