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Prepare closing entries from the following information on the Warner Books worksheet inco

Prepare closing entries from the following information on the Warner Books worksheet inco

 Prepare closing entries from the following information on the Warner Books worksheet income statement columns. Additional information: Withdrawals equal $20 for the period.

Income Statement

DebitCredit

Sales80

Sales Ret. and Allow.8

Income Summary1622

Purchases42

Pur. Ret. and Allow.8

Sales Salaries Expense12

Office Salaries Expense4

50) Prepare the adjusting journal entries from the following items on the Pedersen Company worksheet.

 

ADJUSTMENTS

DebitCredit

Interest Receivable(a) 5

Merchandise Inventory(c) 4(d) 7

Supplies on Hand(b) 2

Interest Income(a) 5

Supplies Expense(b) 2

Income Summary(d) 7(c) 4

51) Prepare compound closing entries from the following information on the Thamesford Storage Company income statement columns from the worksheet.

 

INCOME STATEMENT

                      Debit   Credit 

Sales34

Sales Ret. and Allow.$2

Income Summary911

Purchases22

Pur. Ret. and Allow.3

Sales Salaries Expense5

Office Salaries Expense       2        

Tripti 07-Dec-2019

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