On July 31, 20Y7, the balances of the accounts appearing in the ledger of yang Interiors Company, a furniture wholesaler, are as follows:

Accumulated Depr.—Building ................. $443,000
Administrative Expenses ............................ 534,000
Building ......................................................... 984,000
Cash ................................................................. 95,000
Cost of Merchandise Sold ........................... 941,000
Interest Expense .............................................. 7,000
Merchandise Inventory ............................... 140,000
Notes Payable .............................................. 121,000

Peter Bronsky, Capital ............................. $ 644,000

Peter Bronsky, Drawing ................................ 18,000

Sales ........................................................... 1,745,000

Sales Tax Payable ............................................. 4,500

Selling Expenses ........................................... 194,000

Store Supplies ................................................. 19,000

Store Supplies Expense ................................. 25,500

Prepare the July 31, 20Y7, closing entries for Yang Interiors Company.