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 1 2 3 4 5 6 7 8 Account Accounts payable Accounts receivable Accumulated depreciation-building Accumulated depreciation-equipment Advertising expense Building S. Meilleur, capital S. Meilleur, drawings Cash Depreciation expense Equipment Freight in Freight out Insurance expense Balance Dec. 31 $15,000 30,000 15,500 10,000 4,116 84,600 75,000 28,300 4,540 6,030 24,500 3.106 631 1.520 9 10 11 12 13 14 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Equipment Freight in Freight out Insurance expense Interest expense Interest revenue Land Merchandise inventory, beginning Mortgage payable Prepaid insurance Property tax expense Property taxes payable Purchase discounts Purchase returns and allowances Purchases Rent revenue Salaries expense Salaries payable Sales Sales discounts 6,030 24,500 3,106 631 1,570 2.235 943 12,000 90,200 57,600 2,100 1,555 600 6,300 14,540 267,900 1,415 42.900 650 419.310 15.130 28 29 30 31 32 33 34 Salaries payable Sales Sales discounts Sales returns and allowances Unearned revenue Utilities expense Merchandise inventory, ending 650 419,310 15,130 18,330 23,000 2225 105,190 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 for the amounts) Date Account Titles and Explanation Debit Credit Dec. 31 Sales Interest Revenue Rent Revenue