On August 31, 2012, the balances of the accounts appearing in the ledger of Wood Interiors Company, a furniture wholesaler, are as follows:Prepare the August 31, 2012, closing entries for Wood InteriorsCompany.

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Accumulated Depr-Building Administrative Expenses Notes Payable Retained Earnings $ 25,000 162,000 $142,000 400,000 Building 800,000 Capital Stock Sales Disceunts Sales Returns and Allow. Sales Tax Payable Selling Expenses Stere Supplies Storm Supplies Expenses 10,000 12,000 3,000 150,000 15,000 20,000 Cath Cost of Merchardise Sokd Dividends Interest Expense Merchandise Inventery 350,000 5,000 1,000 26,000