Orlaida Company has the following merchandise account balances: Sales $192,000. Sales Discounts $2,000, Cost of Goods Sold

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 Orlaida Company has the following merchandise account balances: Sales $192,000.

Sales Discounts $2,000, Cost of Goods Sold $105,000. and Merchandise Inventory $40,000. Prepare the entries to record the closing of these items to Income Summary.

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Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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