Question 2 The trial balance of Westmeadow Weightlifting contains the following account balances at 30 June. Westmeadow Weightlifting Trial balance as at 30 June Account Inventory Walter Westmeadow, drawings Sales Sales returns and allowances Discount allowed Cost of sales Freight inwards Discount received Selling and distribution expenses Administrative expenses Other finance expenses Debit $165,750 101,020 47,240 8,360 1,651,280 29,680 419,200 252,084 48,000 Credit $2,580,900 5,790 Prepare the closing entries under the perpetual inventory system. (Enter debit entries first, followed by credit entries, Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Particulars June 30 30 30 30 (Close debit temporary accounts) (Close credit temporary accounts) (Transfer profit to capital) (Transfer drawings to capital a/c) Debit Credit