On July 31, the close of the fiscal year, the balances of the accounts appearing in the ledger of Serbian Interiors Company, a furniture retailer, are as follows Accumulated Depreciation-Building $365,000 Administrative Expenses 440,000 810,000 75,000 75,000 775,000 15,000 6,000 Building Cash Common Stock Cost of Goods Sold Dividends Interest Expense Inventory Notes Payable Retained Earnings Sales Sales Tax Payable Selling Expenses Store Supplies Store Supplies Expense $115,000 100,000 455,000 1,437,000 4,500 160,000 16,000 21,500 Journalize the July 31 closing entries for Serbian Interiors Company. If an amount box does not require an entry, leave it blank.

On July 31, the close of the fiscal year, the balances of the accounts appearing in the ledger of Serbian Interiors Company, a furniture retailer, are as follows Accumulated Depreciation-Building $365,000 Administrative Expenses 440,000 810,000 75,000 75,000 775,000 15,000 6,000 Building Cash Common Stock Cost of Goods Sold Dividends Interest Expense Inventory Notes Payable Retained Earnings Sales Sales Tax Payable Selling Expenses Store Supplies Store Supplies Expense $115,000 100,000 455,000 1,437,000 4,500 160,000 16,000 21,500 Journalize the July 31 closing entries for Serbian Interiors Company. If an amount box does not require an entry, leave it blank.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 4PA: The following accounts appear in the ledger of Celso and Company as of June 30, the end of this...

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