Presented below is information related to Sheridan Company for the month of January 2022. Ending inventory...

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Presented below is information related to Sheridan Company for the month of January 2022. Ending inventory per Insurance expense $11,340 perpetual records $29,890 Rent expense 24,070 Ending inventory actually Salaries and wages expense 56,750 on hand 29,390 Sales discounts 12,880 Cost of goods sold Freight-out 222,830 Sales returns and allowances 15,870 6,920 Sales revenue 413,440 (a) (b) 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.) Account Titles and Explanation Debit Credit Presented below is information related to Sheridan Company for the month of January 2022. Ending inventory per Insurance expense $11,340 perpetual records $29,890 Rent expense 24,070 Ending inventory actually Salaries and wages expense 56,750 on hand 29,390 Sales discounts 12,880 Cost of goods sold Freight-out 222,830 Sales returns and allowances 15,870 6,920 Sales revenue 413,440 (a) (b) 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.) Account Titles and Explanation Debit Credit