The trial balance of Fortaleza Boutique at December 31 shows Merchandise inventory R$21,000, Sales R$136,000. Sales Returns

Question:

The trial balance of Fortaleza Boutique at December 31 shows Merchandise inventory R$21,000, Sales R$136,000. Sales Returns and Allowance R$4,000. Sales Discounts R$3,000, Cost of Goods Sold R$92,400, Interest Revenue R$5,000. Freight-out R$1,500. Utilities Expense R$7,400. Salaries Expense R$18,500. Prepare the closing entries for the Fortaleza’s accounts.