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On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns...

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Accounting

On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows:

Accumulated DepreciationBuilding $752,300
Administrative Expenses 540,650
Building 2,553,550
Cash 167,750
Cost of Merchandise Sold 3,964,300
Interest Expense 10,200
Kathy Melman, Capital 1,515,650
Kathy Melman, Drawing 169,200
Merchandise Inventory 981,650
Notes Payable 255,650
Office Supplies 20,150
Salaries Payable 8,200
Sales 6,235,450
Selling Expenses 736,600
Store Supplies 91,300

CHART OF ACCOUNTSDanns Furnishings CompanyGeneral Ledger

ASSETS
110 Cash
130 Merchandise Inventory
140 Office Supplies
141 Store Supplies
190 Building
191 Accumulated Depreciation-Building
LIABILITIES
216 Salaries Payable
221 Notes Payable
EQUITY
310 Kathy Melman, Capital
311 Kathy Melman, Drawing
REVENUE
410 Sales
EXPENSES
510 Cost of Merchandise Sold
523 Depreciation Expense
526 Salaries Expense
539 Selling Expenses
540 Administrative Expenses
710 Interest Expense

Journalize the closing entries.

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