Problem 22 The Adjusted Trial Balance columns below are from the worksheet of a merchandising firm, J.D. Enterprise, for the year ended Dec. 31, 2019. Required: Prepare the closing entries for the merchandising firm. Camping Supply Center Worksheet (partial) For the year ended December 31, 2019 Adj. Trial Balance Debit Credit 4,000 12,500 8,000 550 300 750 33,000 19,000 9,000 5,000 9,000 200 18,000 25,300 Account Title Cash Accounts Receivable Merchandise Inventory Store Supplies Office Supplies Prepaid Insurance Store Equipment Accum. Depr-Store Equipment Office Equipment Accum. Depr-Office Equipment Accounts Payable Salaries Payable Long Term Notes Payable J.D. Allen, Capital J.D. Allen, Drawing Income Summary Sales Sales Returns and Allowances Purchases Purchases Returns and Allowances Purchases Discounts Sales Salary Expense (selling) Office Salary Expense (general) Store Supplies Expense (selling) Office Supplies Expense (general) Insurance Expense Depreciation Exp-Store Equipment (selling) Depreciation Exp-Office Equipment (general) Totals 16,000 8,500 8,000 29,900 250 11,500 350 200 4,600 3,500 650 475 525 400 450 114,950 30,850 7,600 114,950 38,450 Net Income General Journal Date Description Post Ref Debit Credit