Closing Entries On July 31, the close of the fiscal year, the balances of the accounts appearing in the ledger of Serbian Interiors Company, a furniture retailer, are as follows: Accumulated Depreciation-Building Administrative Expenses Building Cash Common Stock Cost of Goods Sold Dividends Interest Expense $365,000 Inventory $115,000 440,000 Notes Payable 100,000 810,000 Retained Earnings 455,000 78,000 Sales 1,437,000 75,000 Sales Tax Payable 4,500 775,000 Selling Expenses 160,000 15,000 Store Supplies 16,000 6,000 Store Supplies Expense 21,500 Prepare the July 31 closing entries for Serbian Interiors Company, If an amount box does not require an entry, leave it blank. July 31