Prepare the July 31, 2019 closing entries for Pedroni Interiors Company

1. Pedroni Fuel Company is a small oil services company owned and operated by Ray Zorzi. On October 31, 2019 the end of the current year, Pedroni Company's accounting clerk prepared the following unadjusted trial balance Pedroni Fuel Company Unadjusted Trial Balance October 31, 2019 Debit Credit Cash 7,500 Accounts Receivable 38,400 Prepaid Insurance 7,200 Supplies 1,980 Land 112,500 Building 300,250 Accumulated Depreciation - Building 87,550 Equipment 135,300 Accumulated Depreciation - Equipment 97,950 Accounts Payable 12,150 Unearned Rent 6,750 Ray Zorzi - Capital 371,000 Ray Zorzi - Drawing 15,000 Fee's Earned 324,600Salary & Wages Expense 193,370 Utilities Expense 42,375 Advertising Expense 22,800 Repairs Expense 17,250 Miscellaneous Expense 6,075 Total 900,000 900,000 Year End Adjustment Unexpired insurance at October 31 = $600 Supplies on hand on October 31 = $675 Depreciation of Building for the year = $12,000 Unearned Rent on October 31 = $2,250 Accrued Salary and Wages at October 31 = $2,800 Fees earned but unbilled on October 31 = $10,0504. On July 31, 2019 the balances ofthe accounts appearing in the ledger of Pedroni Interiors company a furniture wholesales, are as follows. Accumulated Depreciation Building $365,000 Ray Zorzi Capital $530,000 Administrative Expenses 440,000 Ray Zorzi Drawing 15,000 Building 810,000 Sales 1,437,000 Cash 78,000 Sales tax Payable 4,500 Cost of Merchandise Sold 775,000 Selling Expense 160,000 Interest Expense 6,000 Store Supplies 16,000 Merchandise Inventory 115,000 Store Supplies Expense 21,500 Notes Payable 100,000