eBook Question Content Area Closing entries using periodic inventory system Rikki's Rug Hut is a small rug retailer owned and operated by Rikki Kirwan. After the accounts have been adjusted on December 31, the following selected account balances were taken from the ledger: Line Item Description Amount Advertising Expense $36,000 Depreciation Expense 13,000 Freight In 17,000 Inventory, December 1 375,000 Inventory, December 31 460,000 Miscellaneous Expense 9,000 Purchases 1,760,000 Purchases Discounts 35,000 Purchases Returns and Allowances 45,000 Rikki Kirwan, Drawing 65,000 Salaries Expense 375,000 Sales 2,220,000 The estimated cost of merchandise returns from December sales is $20,000. Journalize the closing entries. If an amount box does not require an entry, leave it blank