Presented below are selected account balances for Bramble Co. as of December 31, 2017.

Inventory 12/31/17	$59,800	Cost of Goods Sold	$225,355
Common Stock	75,680	Selling Expenses	15,780
Retained Earnings	45,540	Administrative Expenses	38,468
Dividends	18,253	Income Tax Expense	30,430
Sales Returns and Allowances	12,092
Sales Discounts	14,800
Sales Revenue	411,720

Prepare closing entries for Bramble Co. on December 31, 2017.(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 0 for the amounts.)

No.

Account Titles and Explanation

Debit

Credit

1.

(To close accounts with credit balances)

2.

(To close accounts with debit balances)

3.

(To close net income / (loss))

4.

(To close dividends)