Need help solving the closing entries.

Valley Companys adjusted trial balance on August 31, 2017, its fiscal year-end, follows.

		Debit			Credit
Merchandise inventory		$	42,300
Other (noninventory) assets			43,270
Total liabilities					$	24,700
K. Valley, Capital						21,400
K. Valley, Withdrawals			8,100
Sales						226,000
Sales discounts			2,280
Sales returns and allowances			12,500
Cost of goods sold			73,500
Sales salaries expense			32,900
Rent expenseSelling space			8,200
Store supplies expense			1,900
Advertising expense			13,500
Office salaries expense			29,900
Rent expenseOffice space			3,300
Office supplies expense			450
Totals		$	272,100		$	272,100

On August 31, 2016, merchandise inventory was $25,700. Supplementary records of merchandising activities for the year ended August 31, 2017, reveal the following itemized costs.

Invoice cost of merchandise purchases	$	92,600
Purchases discounts received		2,800
Purchases returns and allowances		4,200
Costs of transportation-in		4,500

Required:

1. Prepare closing entries as of August 31, 2017 (the perpetual inventory system is used).