Juan Morales Company had the following account balances at year-end:.
Cost of Goods Sold $60,8...
Business, 07.03.2020 04:12 alisonlebron15
Juan Morales Company had the following account balances at year-end:.
Cost of Goods Sold $60,870;
Inventory $18,070;
Operating Expenses $32,660;
Sales Revenue $123,390;
Sales Discounts $1,030;
Sales Returns and Allowances $1,930.
A physical count of inventory determines that merchandise inventory on hand is $12,840.
Prepare closing entries.
(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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