ies, net income Instructions Chart of Accounts Journal Instructions On March 31, 2049, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable $155,250 758,050 Accumulated Depreciation--Building Administrative Expenses Building 522,950 2,558,950 Cash 184,200 308 650 Common Stock Cost of Goods Sold 3,884,500 Dividends 184.250 9.500 Interest Expense Inventory 1 008,300 Notes Payable 250,600 Office Supplies 20,200 Retained Earnings 1,349,550 Salaries Payable 7,750 Sales 6.243,700 Selling Expenses 733,950 Store Supplies 94,450 Journalize the closind entries Refer to the Chart of Accounts for avart wring af account titi o CHART OF ACCOUNTS Royal Furnishings Company General Ledgers ASSETS REVENUE 110 Cash 410 Sales EXPENSES 130 Inventory 140 Office Supplies 141 Store Supplies 190 Building 101 Accumulated Depreciation-Building 510 Cost of Goods Sold 523 Depreciation Expense 526 Sataties Expense 539 Seling Expenses 540 Administrative Expenses LIABILITIES 540 Administrative Expenses LIABILITIES 218 Salaries Payable 221 Notes Payable 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends JOURNAL ACCOUN DATE DESCRIPTION POST. REF DEBIT CREDIT 1 ASSETS 2 3 3