J & D Printing Supplies’ accounting records include the following accounts at December 31, 2025. All accounts have normal balances. 

Requirements 

1. Journalize the required closing entries for J & D Printing Supplies assuming that J & D Printing Supplies uses the periodic inventory system. 

2. Determine the ending balance in the Retained Earnings account.

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Purchases Accounts Payable Rent Expense Building Common Stock Retained Earnings Merchandise Inventory, Beginning Sales Returns and Allowances Notes Payable Purchase Discounts $ 189,600 Accumulated Depreciation-Building $ 23,000 17,900 295,100 7,900 Cash 9,000 Sales Revenue 47,900 Depreciation Expense-Building 58,000 Dividends 21,800 Sales Discounts 122,000 Interest Expense 17,500 Merchandise Inventory, Ending 11,500 Purchase Returns and Allowances 2,600 3,600 27,100 4,300 2,200 99,500 21,200