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Question Help S5B-16 (similar to) D&D Printing Supplies's accounting records include the following accounts at December 31, 2018. Click the icon to view the accounts

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Question Help S5B-16 (similar to) D&D Printing Supplies's accounting records include the following accounts at December 31, 2018. Click the icon to view the accounts and balances) Requirements 1. Joumalize the required closing entries for D&D Printing Supplies assuming that D&D uses the periodic inventory system. 2. Determine the ending balance in the Retained Earnings account. Requirement 1. Joumalize the required closing entries for D&D Printing Supplies assuming that D&D uses the periodic inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing the revenue and other credit accounts and record ending merchandise inventory Date Accounts and Explanation Debit Credit Dec. 31 re Data Table all ar vel Purchases Accounts Payable Rent Expense Building Common Stock Retained Earnings Merchandise Inventory, Beginning Notes Payable Purchase Discounts $ 194,100 Accumulated Depreciation-Building 8,200 Cash 8,500 Sales Revenue 41,100 Depreciation Expense-Building 56,000 Dividends 10,400 Interest Expense 122,000 Merchandise Inventory, Ending 11,900 Purchase Returns and Allowances 2,700 $ 25,000 17,900 285,000 4,200 29,800 2,500 101,300 20,900 Print Done

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