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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 DepreciationBuilding | $752,300 |
| Administrative Expenses | 540,650 |
| Building | 2,553,550 |
| Cash | 167,750 |
| Cost of Merchandise Sold | 3,964,300 |
| Interest Expense | 10,200 |
| Kathy Melman, Capital | 1,515,650 |
| Kathy Melman, Drawing | 169,200 |
| Merchandise Inventory | 981,650 |
| Notes Payable | 255,650 |
| Office Supplies | 20,150 |
| Salaries Payable | 8,200 |
| Sales | 6,235,450 |
| Selling Expenses | 736,600 |
| Store Supplies | 91,300 |
CHART OF ACCOUNTSDanns Furnishings CompanyGeneral Ledger
| | ASSETS |
| 110 | Cash |
| 130 | Merchandise Inventory |
| 140 | Office Supplies |
| 141 | Store Supplies |
| 190 | Building |
| 191 | Accumulated Depreciation-Building |
| | LIABILITIES |
| 216 | Salaries Payable |
| 221 | Notes Payable |
| | EQUITY |
| 310 | Kathy Melman, Capital |
| 311 | Kathy Melman, Drawing |
| | EXPENSES |
| 510 | Cost of Merchandise Sold |
| 523 | Depreciation Expense |
| 526 | Salaries Expense |
| 539 | Selling Expenses |
| 540 | Administrative Expenses |
| 710 | Interest Expense |
Journalize the closing entries.
= =
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