Closing entries perpetual inventory system

Prepare the closing entries under the perpetual inventory system

The trial balance of Westmeadow Weightlifting contains the following account balances at 30 June. Credit Debit $ 153 470 93 540 $2 389 720 Inventory Walter Westmeadow, Drawings Sales Sales returns and allowances Discount allowed Cost of sales Freight inwards Discount received Selling and distribution expenses Administrative expenses Other finance expenses 43 740 7740 1528 960 27 480 5360 388 150 233 411 44 440