Closing entries:

Date	Particulars	Amount (Dr)	Amount (Cr)
31-dec-xx	Sales	808000
	Income statement		808000
31-dec-xx	Income statement	556200
	Cost of goods sold		556200
31-dec-xx	Income statement	189000
	Operating expenses		189000
31-dec-xx	Income statement	35000
	Income tax expense		35000
31-dec-xx	Retained earnings	18900
	Dividend		18900
31-dec-xx	Interest revenue	13500
	Income statement		13500

 

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