Assume information similar to that in the on page 211. That is: On September 5, De La Hoya Company buys merchandise on account from Junot Diaz Company. The selling price of the goods is $1,500, and the cost to Diaz Company was $800. On September 8, De La Hoya returns defective goods with a selling price of $200 and a scrap value of $80. Record the transactions on the books of Junot Diaz Company. The trial balance of Celine”s Sportswear Shop at December 31 shows Merchandise Inventory $25,000, Sales $162,400, Sales Returns and Allowances $4,800, Sales Discounts $3,600, Cost of Goods Sold $110,000, Rental Revenue $6,000, Freight out $1,800, Rent Expense $8,800, and Salaries and Wages Expense $22,000. Prepare the closing entries for the above accounts.