Closing Entries; Net Income On March 31, 20Y4, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows: Accumulated...

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   Closing Entries; Net Income

   
   

   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	$779,200		Merchandise Inventory	$998,450
   Administrative Expenses	523,950		Notes Payable	256,900
   Building	2,486,050		Office Supplies	19,900
   Cash	182,450		Salaries Payable	8,400
   Cost of Merchandise Sold	3,900,200		Sales	6,329,050
   Interest Expense	9,800		Selling Expenses	712,600
   Kathy Melman, Capital	1,643,750		Store Supplies	89,900
   Kathy Melman, Drawing	173,650

   
   

   
   

   
   

   
   

   Journalize the closing entries. If an amount box does not require an entry, leave it blank.

   
   

   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   

   20Y4 Mar. 31	Sales	fill in the blank 2	fill in the blank 3
   	Cost of Merchandise Sold	fill in the blank 5	fill in the blank 6
   	Selling Expenses	fill in the blank 8	fill in the blank 9
   	Administrative Expenses	fill in the blank 11	fill in the blank 12
   	Interest Expense	fill in the blank 14	fill in the blank 15
   	Kathy Melman, Capital	fill in the blank 17	fill in the blank 18
   20Y4 Mar. 31	Kathy Melman, Capital	fill in the blank 20	fill in the blank 21
   	Kathy Melman, Drawing	fill in the blank 23	fill in the blank 24

   
   

   
   

   
   

   
   
   
   

Extracted text: x CengageNOWv2 | Online teachin x S "To maintain public confidence. b My Questions | bartleby + Content A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?inprogress=true Chapter 6 Homework #2 еВook 1. EX.06.20 Accumulated Depreciation-Building $779,200 Merchandise Inventory $998,450 Administrative Expenses 523,950 Notes Pavable 256,900 2. EX.06.23 Building 2,486,050 Office Supplies 19,900 3. EX.06.24 Cash 182,450 Salaries Payable 8,400 Cost of Merchandise Sold 3,900,200 Sales 6,329,050 4. EX.06.27.ALGO Interest Expense 9,800 Selling Expenses 712,600 5. EX.06.29.ALGO Kathy Melman, Capital 1,643,750 Store Supplies 89,900 Kathy Melman, Drawing 173,650 6. PR.06.01.BLANKSHEET.AL. Journalize the closing entries. If an amount box does not require an entry, leave it blank. 7. PR.06.05B 20Υ4 Sales 6,329,050 Mar. 31 Cost of Merchandise Sold 3,900,200 Selling Expenses 712,600 Administrative Expenses 523,950 Interest Expense 9,800 Kathy Melman, Capital 20Y4 Kathy Melman, Capital Mar. 31 Kathy Melman, Drawing Check My Work Previous Next Progress: 5/7 items Email Instructor Submit Test for Grading 10:12 AM A D ll E 1/31/2021