Miguel Vega has a music equipment sales business called Music Sound. During the month of February the following transactions occurred:

Date (February) Transaction 2 $ 10,000 worth of speakers purchased to sell at the business outside of the discount period. 4 Of the speakers purchased on Day 2, 4 were returned at a cost of $ 500 each to the seller because they were damaged. 6 20 amplifiers were purchased for sale on credit with a value of $ 4,000 with a payment term of 2/10 n / 30. 10 A sale was made to a customer of 5 amplifiers for $ 2,000. 12 Payment of the purchase of the 6th was made in full. 15 Music Sound made a $ 5,000 credit sale to a customer with a term of 3/10 n / 30. The cost of the merchandise was $ 2,500. 18 The customer who purchased merchandise on the 15th returned $ 500 worth of merchandise because it was defective. 20 The customer who made the purchase on the 15th paid in full with the corresponding discount. ]

. Using the information from part 1, make the closing entries in the general ledger and in the ledgers of each account.