The adjusted trial balance of Wildhorse Company shows the following data pertaining to sales at the end of its fiscal year October 31, 2022: Sales Revenue $904,600, Freight-Out $16,600, Sales Returns and Allowances $29,800, and Sales Discounts $16,500. Prepare separate closing entries for (1) sales revenue, and (2) the contra accounts to sales revenue

Need with an adjusting journal entrycmc records depreciation and amortization expense annually. they do not use an accumulated amortization account. (i. e. amortization expense is recorded with a debit to amort. exp and a credit to the patent.) annual depreciation rates are 7% for buildings/equipment/furniture, no salvage. (round to the nearest whole dollar.) annual amortization rates are 10% of original cost, straight-line method, no salvage. cmc owns two patents: patent #fj101 and patent #cq510. patent #cq510 was acquired on october 1, 2016. patent #fj101 was acquired on april 1, 2018 for $119,000. the last time depreciation & amortization were recorded was december 31, 2017.before adjustment: land: 348791equpment and furniture: 332989building: 876418patents 217000