Using the information in Problem 7B, prepare compound closing entries for Ucore Sales.
In Problem 7B

Ucore Sales Work Sheet For the Year Ended December 31, 2014 Balance Sheet & Statement of Changes in Equity Income Statement Account Dr 129,964 690 Cost of goods sold Depreciation expense, office equipment Depreciation expense, store equipment Insurance expense Liabilities Lyle Ucore, capital Lyle Ucore, withdrawals Merchandise inventory Other assets Rent expense (8096 sales) Salaries expense (7096 sales) Sales Sales discounts Sales returns and allowances Supplies expense (35% sales) 3,204 1,240 84,000 46,547 20,500 3,400 102,952 19,950 71,000 226,500 278 1,469 2,400 Totals Net loss Totals 230,195 226,500 126,852 130,547 3,695 3,695 230,195 230,195 130,547 130,547