On March 31, 2018, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture wholesaler, are as follows:

Accounts Receivable	$150,250
Accumulated DepreciationBuilding	742,600
Administrative Expenses	515,600
Building	2,552,350
Cash	183,850
Common Stock	295,050
Cost of Goods Sold	3,903,350
Dividends	185,250
Interest Expense	10,200
Inventory	1,000,900
Notes Payable	254,900
Office Supplies	20,350
Retained Earnings	1,315,950
Salaries Payable	8,050
Sales	6,618,600
Selling Expenses	706,050
Store Supplies	86,700

Journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles.

Journal Journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY Closing Entries 3 4 5 7 8 9 10 11 12