Presented below are selected accounts for B. Midler Company as reported in the worksheet at the end of May 2020. Ending inventory is $75,000.

Instructions

Complete the worksheet by extending amounts reported in the adjusted trial balance to the appropriate columns in the worksheet. The company uses the periodic inventory system.

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Adjusted Trial Balance Balance Accounts Income Sheet Statement Cr. Dr. Cr. Cr. Dr. Dr. Cash 9,000 80,000 Inventory Purchases 240,000 Purchase Returns and 30,000 Allowances Sales Revenue 450,000 Sales Returns and Allowances 10,000 Sales Discounts 5,000 Rent Expense 42,000