Following is the year-end adjusted trial balance for Fred's Corner Grocery for the current year: 
Prepare the closing entries at December 31 for the current year.
Definitions:
Error Checking
A feature or tool in software applications that scans for mistakes or inconsistencies in data or code and alerts the user to potential errors.
Evaluate Formula
A process in spreadsheet applications that allows the user to see the calculation process of a formula step-by-step.
Formulas Tab
An area in spreadsheet programs where users can find functions and tools to create and manage mathematical equations.
Name Manager
A tool in spreadsheet software used to create, edit, and delete named ranges, making it easier to identify and manage specific data cells or groups.
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