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On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building Administrative Expenses Building Cash Cost of Merchandise Sold Interest Expense Kathy Melman, Capital Kathy Melman, Drawing 20Y4 Mar. 31 20Y4 Mar. 31 Sales $419,000 302,000 Cost of Merchandise Sold 1,397,000 98,000 2,123,000 6,000 887,000 98,000 Journalize the closing entries. If an amount box does not require an entry, leave it blank. Merchandise Inventory 000000 000000 00 00 Notes Payable Office Supplies Salaries Payable Sales Selling Expenses Store Supplies $547,000 140,000 11,000 4,000 3,582,000 400,000 50,000

On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building Administrative Expenses Building Cash Cost of Merchandise Sold Interest Expense Kathy Melman, Capital Kathy Melman, Drawing 20Y4 Mar. 31 20Y4 Mar. 31 Sales $419,000 302,000 Cost of Merchandise Sold 1,397,000 98,000 2,123,000 6,000 887,000 98,000 Journalize the closing entries. If an amount box does not require an entry, leave it blank. Merchandise Inventory 000000 000000 00 00 Notes Payable Office Supplies Salaries Payable Sales Selling Expenses Store Supplies $547,000 140,000 11,000 4,000 3,582,000 400,000 50,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building Administrative Expenses Building Cash Cost of Merchandise Sold Interest Expense Kathy Melman, Capital Kathy Melman, Drawing 20Y4 Mar. 31 20Y4 Mar. 31 Sales $419,000 302,000 1,397,000 Cost of Merchandise Sold 98,000 2,123,000 6,000 887,000 98,000 Journalize the closing entries. If an amount box does not require an entry, leave it blank. Merchandise Inventory 000000 000000 00 00 Notes Payable Office Supplies Salaries Payable Sales Selling Expenses Store Supplies $547,000 140,000 11,000 4,000 3,582,000 400,000 50,000
Transcribed Image Text:On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building Administrative Expenses Building Cash Cost of Merchandise Sold Interest Expense Kathy Melman, Capital Kathy Melman, Drawing 20Y4 Mar. 31 20Y4 Mar. 31 Sales $419,000 302,000 1,397,000 Cost of Merchandise Sold 98,000 2,123,000 6,000 887,000 98,000 Journalize the closing entries. If an amount box does not require an entry, leave it blank. Merchandise Inventory 000000 000000 00 00 Notes Payable Office Supplies Salaries Payable Sales Selling Expenses Store Supplies $547,000 140,000 11,000 4,000 3,582,000 400,000 50,000
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