Current Attempt in Progress Presented below is information related to Crane Corporation for the month of January 2017. Cost of goods sold $387,000 Salaries and wages expense $191,000 Delivery expense 20,600 Sales discounts 34,100 Insurance expense 11,700 Sales returns and allowances 19,600 Rent expense 28,800 Sales revenue 867,000 Prepare the necessary closing entries. (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. Date Account Titles and Explanation 1 Jan. 31 Debit Credit 1 Jan 31 Sales Re 2. Jan 31 3 Income Summary Nor No Entry To close revenue accounts) Sales Rems and An CGoods So To-dose perse accounts De cose net inco 667000 47000