=+EX 6-37 Journal entries using perpetual inventory system 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:

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