Presented below are year$-$end adjusted account balances for Grouper Co$.$

$\backslash$table$[[$Insurance expense,$$11,160,$Salaries and wages expense,$55,230],[$Rent expense,$22,430,$Sales discounts,$12,590],[$Inventory$,26,260,$Sales returns and allowances,$15,640],[$Cost of goods sold,$212,780,$Sales revenue,$411,350],[$Freight$-$out,$7,930,,]]$

Prepare the necessary closing entries. $($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit