Closing Entries On July 31, 2019, the balances of the accounts appearing in the ledger of Serbian Interiors Company, a furniture wholesaler, are as follows: Accumulated Depreciation—Building $365,000 Peter Bronsky, Capital $530,000 Administrative Expenses 440,000 Peter Bronsky, 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 Expenses 160,000 Interest Expense 6,000 Store Supplies 16,000 Merchandise Inventory 115,000 Store Supplies Expense 21,500 Notes Payable 100,000 Prepare the July 31, 2019, closing entries for Serbian Interiors Company in the order as presented in the chapter. For a compound transaction, if an amount box does not require an entry, leave it blank. July 31 July 31

Closing Entries On July 31, 2019, the balances of the accounts appearing in the ledger of Serbian Interiors Company, a furniture wholesaler, are as follows: Accumulated Depreciation—Building $365,000...

Closing Entries

On July 31, 2019, the balances of the accounts appearing in the ledger of Serbian Interiors Company, a furniture wholesaler, are as follows:

Accumulated Depreciation—Building	$365,000	Peter Bronsky, Capital	$530,000
Administrative Expenses	440,000	Peter Bronsky, 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 Expenses	160,000
Interest Expense	6,000	Store Supplies	16,000
Merchandise Inventory	115,000	Store Supplies Expense	21,500
Notes Payable	100,000

Prepare the July 31, 2019, closing entries for Serbian Interiors Company in the order as presented in the chapter.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Jun 10, 2022