Presented below is information related to Cullumber Company, owned by D. Flamont, for the month of January 2021.

Ending inventory per perpetual records		$22,500		Insurance expense		$12,000
Ending inventory actually on hand		18,700		Rent expense		18,700
Cost of goods sold		207,000		Salaries expense		54,300
Freight out		6,900		Sales discounts		10,200
				Sales returns and allowances		13,300
				Sales		377,000

Date Account Titles and Explanation Debit Credit Jan. 31 (To close income statement account with credit balance.) Jan. 31 V (To close income statement accounts with debit balances.) Jan. 31 (To close Income Summary account.)