Question: answer all correctly pls. will click like Presented below are selected account balances for Sheridan Co. as of December 31, 2020. Inventory 12/31/20 Common Stock


Presented below are selected account balances for Sheridan Co. as of December 31, 2020. Inventory 12/31/20 Common Stock Retained Earnings Dividends Sales Returns and Allowances Sales Discounts Sales Revenue $59,710 75,420 44,810 17,925 12,202 14,910 407,140 Cost of Goods Sold Selling Expenses Administrative Expenses Income Tax Expense $229,009 16,177 37.408 30410 Prepare closing entries for Sheridan Co.on December 31, 2020. (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 o for the amounts.) No. Account Titles and Explanation Debit Credit 1 (Toclose accounts with credit balances) 2 (To close accounts with credit balances) 2. (To close accounts with debit balances) 3. (To close net income/(loss)) 4. (To close accounts with debit balances) 3. (To close net income/(loss)) 4. (To close dividends)
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