On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows:

Accounts Receivable$170,000 Inventory$990,000

Accumulated DepreciationBuilding768,850 Notes Payable319,800

Administrative Expenses523,450 Office Supplies20,350

Building2,604,200 Retained Earnings1,226,100

Cash168,750 Salaries Payable8,150

Common Stock292,800 Sales6,235,000

Cost of Goods Sold3,690,250 Selling Expenses705,950

Dividends181,600 Store Supplies91,900

Interest Expense9,700

Journalize the closing entries. If an amount box does not require an entry, leave it blank.

20Y9 Mar. 31

Mar. 31