Closing entries using periodic inventory system

Closing Entries Using Periodic Inventory System United Rug Company is a small rug retailer owned and operated by Pat Kirwan. After the accounts have been adjusted on December 31, the following selected account balances were taken from the ledger: Advertising Expense $36,000 Depreciation Expense 13,000 Freight in 17,000 Merchandise Inventory, January 1 375,000 Merchandise Inventory, December 31 480,000 Miscellaneous Expense 9,000 Purchases 1,760,000 Purchases Discounts 35,000 Purchases Returns and Allowances 45,000 pat Kirwan, Drawing 65,000 Salaries Expense 375,000 Sales 2,220,000 Journalize the closing entries on December 31.1f an amount box does not require an entry, leave it blank. Dec 31 Merchandise Inventory (December 31 480,000 Sales 2.220,00 Purchases Discounts Purchases Returns and Allowances Pat Kirwan Drawing 35,000 45.000 Il Sales Journalize the closing entries on December 31. If an amount box does not require an entry, leave it blank. Dec 31 Merchandise Inventory (December 31) 480,000 Sales 2,220,000 Purchases Discounts 35,000 Purchases Returns and Allowances 45,000 Pat Kirwan, Drawing Sales Dec. 31