=+On August 31, 2008, the balances ofthe accounts appearing in the ledger ofThe Bent Needle Company, a furniture wholesaler, are as follows:

Administrative Expenses $125,000 Building 512,500 Cash 48,500 Cost of Merchandise Sold 700,000 Interest Expense 7,500 Capital Stock 568,580 Dividends 25,000 Merchandise Inventory 130,000 Notes Payable $ 25,000 Office Supplies 10,600 Salaries Payable 3,220 Sales 1,275,000 Sales Discounts 20,000 Sales Returns and Allowances 80,000 Selling Expenses 205,000 Store Supplies 7,700