Pronghorn Company had the following account balances at year-end: Cost of Goods Sold $64,120, Inventory $14,320, Utilities Expense $30,950,5 sles Revenue $124,720, Sales Discounts $1,250, and Sales Returns and Allowances $2,110. A physical count of inventory determines that merchandise imventory on hand is $12,470. They use the perpetual inventory system. Prepare closing entries. (List all debit entries before credit entries. Credit account titles are automotically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account bities and enter Ofor the amounts.] (To close accounts with debit balances) (To close net income / (loss)) eTextbook and Media List of Accounts Sive for Later. Attempts: 0 of 5 used