Bleeker Company has the following merchandise account balances: Sales $195,000, Sales Discounts $2,000, Cost of Goods Sold $105,000, and Merchandise…

Bleeker Company has the following merchandise account balances: Sales $195,000, Sales Discounts $2,000, Cost of Goods Sold $105,000, and Merchandise Inventory $40,000. Prepare the entries to record the closing of these items to Income Summary. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2. Description/Account Debit Credit (To close sales account.)

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