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Closing Entries; Net Income On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation—Building $776,600 Merchandise Inventory $986,600 Administrative Expenses 531,550 Notes Payable 257,350 Building 2,568,400 Office Supplies 20,900 Cash 168,650 Salaries Payable 8,300 Cost of Merchandise Sold 3,825,600 Sales 6,494,750 Interest Expense 10,250 Selling Expenses 750,250 Kathy Melman, Capital 1,550,750 Store Supplies 92,250 Kathy Melman, Drawing 183,350 Journalize the closing entries. If an amount box does not require an entry, leave it blank. 20Y4 Mar. 31 20Y4 Mar. 31

          Closing Entries; Net Income
On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows:
Accumulated Depreciation—Building $776,600
Merchandise Inventory $986,600
Administrative Expenses 531,550
Notes Payable 257,350
Building 2,568,400
Office Supplies 20,900
Cash 168,650
Salaries Payable 8,300
Cost of Merchandise Sold 3,825,600
Sales 6,494,750
Interest Expense 10,250
Selling Expenses 750,250
Kathy Melman, Capital 1,550,750
Store Supplies 92,250
Kathy Melman, Drawing 183,350
Journalize the closing entries. If an amount box does not require an entry, leave it blank.
20Y4
Mar. 31
20Y4
Mar. 31

Closing Entries; Net Income
On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows:
Accumulated Depreciation—Building 776,600
Merchandise Inventory986,600
Administrative Expenses 531,550
Notes Payable 257,350
Building 2,568,400
Office Supplies 20,900
Cash 168,650
Salaries Payable 8,300
Cost of Merchandise Sold 3,825,600
Sales 6,494,750
Interest Expense 10,250
Selling Expenses 750,250
Kathy Melman, Capital 1,550,750
Store Supplies 92,250
Kathy Melman, Drawing 183,350
Journalize the closing entries. If an amount box does not require an entry, leave it blank.
20Y4
Mar. 31
20Y4
Mar. 31

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