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Greenway Company is a small rug retailer owned and

Greenway Company is a small rug retailer owned and operated by Lorene Greenway. After the accounts have been adjusted on March 31, the following account balances were taken from the ledger: Advertising Expense $25,800 Depreciation Expense 5,100 Lorene Greenway, Drawing 50,000 Merchandise Inventory, March 1 34,500 Merchandise Inventory, March 31 42,150 Miscellaneous Expense 6,350 Purchases 480,000 Purchases Discounts 2,000 Purchases Returns and Allowances 9,000 Sales 925,000 Sales Discounts 4,000 Sales Returns and Allowances 8,000 Salaries Expense 76,300 Transportation In 15,400Journalize the closing entries on March 31.

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