Given the info below answer the question Inventory 12/31/25 $60,100 Cost of Goods Sold $221,463 Common Stock

Given the info below answer the question

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Inventory 12/31/25 $60,100 Cost of Goods Sold $221,463 Common Stock 74,510 Selling Expenses 15,783 Retained Earnings 45,810 Administrative Expenses 37,696 Dividends 17,726 Income Tax Expense 30,460 Sales Returns and Allowances 11,822 Sales Discounts 14,760 Sales Revenue 404,990 Prepare closing entries for Metlock Co. on December 31, 2025. (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. List all debit entries before credit entries.) No. Account Titles and Explanation 1. Service Revenue Income Summary (To close accounts with credit balances) Debit 404,990 Credit 404,990 Inventory 12/31/25 $60,100 Cost of Goods Sold $221,463 Common Stock 74,510 Selling Expenses 15,783 Retained Earnings 45,810 Administrative Expenses 37,696 Dividends 17,726 Income Tax Expense 30,460 Sales Returns and Allowances 11,822 Sales Discounts 14,760 Sales Revenue 404,990 Prepare closing entries for Metlock Co. on December 31, 2025. (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. List all debit entries before credit entries.) No. Account Titles and Explanation 1. Service Revenue Income Summary (To close accounts with credit balances) Debit 404,990 Credit 404,990