Closing Entries; Net Income On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable Accumulated Depreciation-Building Administrative Expenses Building Cash Common Stock Cost of Goods Sold Dividends Interest Expense $170,000 Inventory $956,450 743,200 Notes Payable 304,450 553,250 Office Supplies 20,100 2,479,650 180,250 293,200 Sales Retained Earnings 1,303,650 Salaries Payable 7,650 6,190,800 3,813,850 Selling Expenses 693,650 177,050 Store Supplies 10,200 Journalize the closing entries. If an amount box does not require an entry, leave it blank. 20Y9 Mar. 31 Sales Cost of Goods Sold Selling Expenses Administrative Expenses Interest Expense 6,190,800 3,813,850 693,650 553,250 10,200 Retained Earnings Mar. 31 Retained Earnings 177,050 Dividends 177,050 88,700