Reference no: EM132768704

Question - On July 31, 2019 the balances of the accounts appearing in the ledger of Pedroni Interiors company a furniture wholesales, are as follows.

Accumulated Depreciation - Building $365,000 Ray Zorzi - Capital $530,000

Administrative Expenses 440,000 Ray Zorzi - 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 Expense 160,000

Interest Expense 6,000 Store Supplies 16,000

Merchandise Inventory 115,000 Store Supplies Expense 21,500

Notes Payable 100,000

Required - Prepare the July 31, 2019 closing entries for Pedroni Interiors Company?