Hugo Reyes Company had the following account balances at year-end: Cost of Goods Sold $60,000; Inventory $15,000;
Question:
Instructions
(a) Prepare the adjusting entry necessary as a result of the physical count.
(b) Prepare closing entries.
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a Cost of Goods Sold 1100 Inventory 1100 b Sales Revenue ...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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