Question

Debit Credit Merchandise inventory $ 41,100 Other (noninventory) assets 46,270 Total liabilities $ 24,800 N. Kitty,...

Debit Credit
Merchandise inventory $ 41,100
Other (noninventory) assets 46,270
Total liabilities $ 24,800
N. Kitty, Capital 20,900
N. Kitty, Withdrawals 8,800
Sales 225,700
Sales discounts 2,280
Sales returns and allowances 12,500
Cost of goods sold 74,400
Sales salaries expense 31,200
Rent expense—Selling space 8,600
Store supplies expense 1,700
Advertising expense 12,000
Office salaries expense 28,600
Rent expense—Office space 3,600
Office supplies expense 350
Totals $ 271,400 $ 271,400


On June 30, 2017, merchandise inventory was $25,000. 去年2017年6月30日的商品库存是$25,000。

Supplementary records of merchandising activities for the year ended June 30, 2018, reveal the following itemized costs. 今年截至6月30日



Invoice cost of merchandise purchases $ 92,800
Purchase discounts received 2,400
Purchase returns and allowances 4,600
Costs of transportation-in 4,700

Required:
1. Prepare closing entries as at June 30, 2018 (the perpetual inventory system is used). (Omit the "$" sign in your response)
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