Debit Credit

Merchandise inventory $ 41,100

Other (noninventory) assets 46,270

Total liabilities $ 24,800

N. Kitty, Capital 20,900

N. Kitty, Withdrawals 8,800

Sales 225,700

Sales discounts 2,280

Sales returns and allowances 12,500

Cost of goods sold 74,400

Sales salaries expense 31,200

Rent expenseSelling space 8,600

Store supplies expense 1,700

Advertising expense 12,000

Office salaries expense 28,600

Rent expenseOffice space 3,600

Office supplies expense 350

Totals $ 271,400 $ 271,400

On June 30, 2017, merchandise inventory was $25,000. 2017630$25,000

Supplementary records of merchandising activities for the year ended June 30, 2018, reveal the following itemized costs. 630

Invoice cost of merchandise purchases $ 92,800

Purchase discounts received 2,400

Purchase returns and allowances 4,600

Costs of transportation-in 4,700

Required:

1. Prepare closing entries as at June 30, 2018 (the perpetual inventory system is used). (Omit the "$" sign in your response)