Rocky RV Center’s accounting records include the following accounts at December 31, 2024.

Requirements
1. Journalize the required closing entries for Rocky.
2. Determine the ending balance in the Rocky, Capital account.

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Cost of Goods Sold Accounts Payable Rent Expense Building Rocky, Capital Merchandise Inventory Estimated Returns Inventory Notes Receivable Accumulated Depreciation-Building $372,000 Cash 12,000 Sales Revenue 25,700 Depreciation Expense Building 113,000 Rocky, Withdrawals 198,100 Interest Revenue 238,000 Refunds Payable 1,600 Sales Discounts Forfeited 34,000 Delivery Expense 38,000 $ 47,000 636,500 13,000 58,000 12,000 4,000 2,000 300