The trial balance of Grouper at December $31$ shows Inventory $$24,100,$ Sales Revenue $$164,600,$ Sales Returns and Allowances $$4,800,$ Sales Discounts $$3,450,$ Cost of Goods Sold $$93,200,$ Interest Revenue $$5,000,$ Frelght$-$Out $$1,350,$ Utilities Expense $$7,550,$ and Salaries and Wages Expense $$27,300.$

Prepare the closing entries for Grouper for these accounts. $($Credit account titles are automatically indented when 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

Dec.

$31$

$($To close accounts with credit balances$)$

Dec.

$31$

Debit

Credit

Credit