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Closing Entries; Net Income On March 31, 2019, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are

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Closing Entries; Net Income On March 31, 2019, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable $ 170,000 $1,019,750 722,000 Inventory Notes Payable Office Supplies Accumulated Depreciation-Building Administrative Expenses 311,950 544,600 20,700 Building 2,406,700 Retained Earnings 1,344,300 Cash 170,900 Salaries Payable 8,150 Common Stock 301,650 Sales 6,623,050 Cost of Goods Sold 3,640,400 Selling Expenses 699,800 Dividends 177,650 Store Supplies 88,950 Interest Expense 9,900 Journalize the closing entries. If an amount box does not require an entry, leave it blank. 20Y9 Mar. 31 Journalize the closing entries. If an amount box does not require an entry, leave it blank. 20Y9 Mar. 31 Building Cash Retained Earnings Sales Sales Discounts III Mar. 31 Journalize the closing entries. If an amount box does not require an entry, leave it blank. 2019 Mar. 31 Cost of Goods Sold Interest Expense Office Supplies II IIIIII Retained Earnings Selling Expenses Mar. 31

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