AcDonald Hardware Store's accounting records (partial) carried the following accounts at July 31, 2020 (Click the icon to view the financial data.) Required Note: For simplicity, all operating expenses have been summarized in the accounts Selling Expenses and General and Administrative Expenses. Accounts Receivable $ 43,000 Selling Expenses . $ 369.000 Interest Revenue 2,000 Sales Revenue. 2,180.000 Accounts Payable. 12.000 Other Expense 226,000 205,000 Interest Expense 72,000 Inventory.. 842,000 General and Administrative 180.000 Expenses Cost of Goods Sold J. Stanton, Withdrawals 224.000 equired ote: For simplicity, all operating expenses have been summarized in the accounts Selling Expenses and General and Administrative Expenses . Journalize all of this company's closing entries at July 31, 2020. The company uses the perpetual inventory system .. T-accounts for the Income Summary account and the J. McDonald, Capital account have been set up for you. Post to these accounts and calculate their ending balanc One year earlier, at July 31, 2019, the Capital balance was $114,000