Aladdin Company is a small rug retailer owned and operated by Lin Endsley. After the accounts have been adjusted on October 31, the following account balances were taken from the ledger:

Journalize the closing entries on October31.

Transcribed Image Text:

$ 16,500 4,000 8,000 30,000 43,800 35,750 1,750 560,000 12,000 6,000 890,000 5,000 Advertising Expense Depreciation Expense Freight In . Lin Endsley, Drawing. Merchandise Inventory, October 1. Merchandise Inventory, October 31. Miscellaneous Expense Purchases. Purchases Discounts Purchases Returns and Allowances Sales Sales Discounts.. Sales Returns and Allowances 10,000 Salaries Expense. 80,000