Seaside RV Center's accounting records include the following accounts at December 31, 2025. All accounts have normal balances. View the accounts and balances. Requirements 1. Journalize the required closing entries for Seaside RV Center. 2. Determine the ending balance in the Faulk, Capital account. Requirement 1. Journalize the required closing entries for Seaside RV Center. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing the revenue accounts for the period. Do not close expenses; we will do this in the next step. Date Dec. 31 Accounts Payable Accounts and Explanation Accumulated Depreciation-Building Building Close expenses Cash Date Dec. 31 Cost of Goods Sold Depreciation Expense-Building Faulk, Capital Faulk, Withdrawals Income Summary e Income S Interest Revenue Date Merchandise Inventory Notes Receivable Rent Expense Debit Credit Accounts and Balances possible Subm Cost of Goods Sold $ 365,000 Accounts Payable Rent Expense Building 22,000 31,000 118,000 Faulk, Capital 157,000 Merchandise Inventory 240,000 Debit Credit Sales Returns and Allowances 36,000 Notes Receivable 35,000 Accumulated Depreciation-Building 45,000 Cash 50,000 Sales Revenue 725,000 Depreciation Expense-Building 17,000 Faulk, Withdrawals 59,000 Sales Discounts 9,000 Interest Revenue 11,000 Debit Credit Print Done