Efficient Business Systems uses a perpetual inventory system. The adjusted trial balance of Efficient Business Systems March 31, 2024, follows: (Click the icon to view the adjusted trial balance.) Requirement 1. Journalize the required closing entries at March 31, 2024. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Do not close expenses or contra-revenue accounts; we will do this in the next step. Efficient Business Systems AdjustedTrialBalanceMarch31,2024 \begin{tabular}{|c|c|c|c|} \hline \multirow{3}{*}{AccountTitleCash} & \multicolumn{3}{|c|}{ Balance } \\ \hline & \multicolumn{2}{|r|}{ Debit } & \multirow[t]{2}{*}{ Credit } \\ \hline & $ & 2,700 & \\ \hline Accounts Receivable & & 12,800 & \\ \hline Merchandise Inventory & & 30,600 & \\ \hline Estimated Returns Inventory & & 2,000 & \\ \hline Office Supplies & & 6,600 & \\ \hline Equipment & & 42,000 & \\ \hline Accumulated Depreciation-Equipment & & $ & 13,600 \\ \hline Accounts Payable & & & 6,500 \\ \hline Refunds Payable & & & 2,100 \\ \hline Salaries Payable & & & 1,100 \\ \hline Notes Payable, long-term & & & 7,400 \\ \hline Moss, Capital & & & 23,250 \\ \hline Moss, Withdrawals & & 44,000 & \\ \hline Sales Revenue & & & 235,000 \\ \hline Sales Discounts Forfeited & & & 1,100 \\ \hline Cost of Goods Sold & & 105,750 & \\ \hline Selling Expense & & 26,600 & \\ \hline Administrative Expense & & 14,600 & \\ \hline Interest Expense & & 2,400 & \\ \hline Total & $ & 290,050$ & 290,050 \\ \hline \end{tabular}