The following is a list of the accounts and balances at December 31, 2021, for Meilleur Merchants. The list of accounts is in alphabetical order. All accounts have normal balances.

Question 34 of 36 -74 View Policies Current Attempt in Progress The following is a list of the accounts and balances at December 31, 2021, for Meilleur Merchants. The list of accounts is in alphabetical order. All accounts have normal balances. Meilleur uses a periodic inventory system and the earnings approach for revenue recognition. Balance Account Dec. 31 1 Accounts payable $15,000 2 Accounts receivable 30,000 3 Accumulated depreciation-building 15,500 4 Accumulated depreciation equipment 10,000 5 Advertising expense 4,146 6 Building 84,600 7 S. Meilleur, capital 75.000 8 S. Meilleur, drawings 28,300 9 Cash 4,530 10 Depreciation expense 6,040 11 Equipment 24,500 12 Freight in 3.126 13 Freight out 641 14 Insurance expense 1,650 15 Interest expense 2,250 16 Interest revenue 944 17 Land 12,000 18 Merchandise inventory, beginning 90,200 19 Mortgage payable 57,600 20 Prepaid insurance 2,100 21 Property tax expense 1,530 22 Property taxes payable 600 23 Purchase discounts 6,300 24 Purchase returns and allowances 14,550 25 Purchases 267,800 26 Rent revenue 1,430 27 Salaries expense 42,600 28 Salaries payable 650 29 Sales 419,340 30 Sales discounts 15,960 31 Sales returns and allowances 18,370 32 Unearned revenue 23,000 33 Utilities expense 2,225 34 Merchandise inventory, ending 105,170 Prepare closing entries for Meilleur Merchants at December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To close income statement accounts with credit balances.) credit balances.) Dec. 31 > > (To close income statement accounts with debit balances.) Dec. 31 (To close Income Summary.) Dec. 31 (To close drawings.)