Rockwell RV Center’s accounting records include the following accounts at

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S5-9 Journalizing closing entries—perpetual inventory [5–10 min]
Rockwell RV Center’s accounting records include the following accounts at December 31, 2012:

Cost of goods sold $385,000 Accumulated depreciation $39,000
Accounts payable 17,000 Cash 43,000
Rent expense 21,000 Sales revenue 696,000
Building 108,000 Depreciation expense 12,000
Rockwell, capital 208,800 Rockwell, drawing 61,000
Inventory 261,000 Sales discounts 9,000

Requirement
1. Journalize the required closing entries for Rockwell RV Center for
December 31, 2012.