On October 31, 2016, the balances of the accounts appearing in the ledger of Prestige Furnishings Company, a furniture wholesaler, are as follows:

Accumulated DepreciationBuilding	$746,350
Administrative Expenses	515,750
Building	2,419,500
Cash	168,150
Common Stock	300,500
Cost of Merchandise Sold	3,925,500
Dividends	179,100
Interest Expense	9,950
Merchandise Inventory	1,020,900
Notes Payable	259,350
Office Supplies	19,150
Retained Earnings	1,343,400
Salaries Payable	7,600
Sales	6,144,850
Selling Expenses	732,500
Store Supplies	92,700

Journalize the October 31, 2016 closing entries. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 10 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT Closing Entries