Question two: The following information is available for Liu Company: Debit Credit Owner's Capital $ 50,000 Owner's Drawings $ 23,000 Sales Revenue 500,000 Sales Returns and Allowances 20,000 Sales Discounts 7,500 Cost of Goods Sold 302,000 Freight-Out 2,300 Advertising Expense 15,000 Interest Expense 19,200 Salaries and Wages Expense 53,000 Utilities Expense 18,000 Depreciation Expense 9,000 Interest Revenue 18,000 Instructions Using the above information, prepare the closing entries for Liu Company