On October 31, 2014, the balances on accounts appearing in the ledger of Aron interiors Company, a furniture wholesaler, are as follows: Accumulated Depr.-Building $142,000 Administrative Expenses 300,000 Building 446,000 Capital Stock 75,000 Cash 60,000 Cost of Merchandise Sold 650,000 Dividends 25,000 Interest Expense 10,000 Merchandise Inventory 126,000 Notes Payable $ 125,000 Retained Earnings 105,000 Sales 1,375,000 Sales Discounts 20,000 Sales Returns and Allow. 13,000 Sales Tax Payable 3,000 Selling Expenses 140,000 Store Supplies 23,000 Store Supplies Expense 12,000
Prepare the October 31, 2014, closing entries for Acorn Interiors Company.