Shown below is the December 31, 2021 Trial Balance of Davis Machinery Corporation. Based on the trial balance shown below: please record the closing entries using the journal entry templates provided below and post the closing entries to the correct general ledger account using the general ledger templates provided.

Davis Machinery CorporationAdjusted Trial BalanceAs of December 31, 2021Account Name:DR.CR.Cash$5,000-Accounts Receivables$95,000-Inventory$1,980,000-Machinery and Equipment$600,000-Accumulated Depreciation (Machinery and Equipment)-$30,000Accounts Payables-$15,000Retained Earnings-$1,600,000Common Stock-$500,000Machine Sales Revenue-$1,000,000Part Sales Revenue-$550,000Cost of Goods Sold$600,000-Salary and Wages Expense$250,000-Rent Expense$120,000-Utilities Expense$6,000-Depreciation Expense$10,000-Insurance Expense$12,000-Employee Benefits Expense$17,000-TOTAL$3,695,000$3,695,000

ACCOUNT NAMEDR.CR.

ACCOUNT NAMEDR.CR.

ACCOUNT NAMEDR.CR.