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On March 31, 2014, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows:
Accumulated Depreciation-Building
$419,000
Merchandise Inventory
$547,000
Administrative Expenses
302,000
Notes Payable
140,000
Building
1,397,000
Office Supplies
11,000
Cash
98,000
Salaries Payable
4,000
Cost of Merchandise Sold
2,123,000
Sales
3,582,000
Interest Expense
6,000
Selling Expenses
400,000
Kathy Melman, Capital
887,000
Store Supplies
50,000
Kathy Melman, Drawing
98,000
Journalize the closing entries. If an amount box does not require an entry, leave it blank.
20Y4
Sales
Mar. 31
Cost of Merchandise Sold
Selling Expenses
Administrative Expenses
20Y4
Interest Expense
Mar. 31