Presented below is information related to Headland Corporation for the

Presented below is information related to Headland Corporation for the month of January 2017.Cost of goods sold$222,140Salaries and wages expense$58,680Delivery expense6,740Sales discounts7,790Insurance expense11,820Sales returns and allowances13,410Rent expense19,400Sales revenue359,700Prepare 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 0 for the amounts.)