Sales Discounts 6,000 Sales Returns & Allowances 8,000 Cost of Goods Sold 183,000 Operating Expenses 37,000 506,000 506,000 Instructions Using the information given, prepare the year-end closing entries. Question #3: (4 points) (CLO 3) The adjusted trial balance of Adam Book Company appears below. Adjusted Trial Balance December 31, 2018 Debit Credit 20,000 Cash 32,000 Accounts Receivable 25,000 Merchandise Inventory 35,000 Building 150,000 Accumulated Depreciation Building Accounts Payable Share Capital-Ordinary Retained Earnings Dividends 30,000 Sales 12,000 100,000 49,000 325,000