Prasad Pasta Manufacturing has the following merchandise account balances: Sales $180,000, Sales Discounts $2,000, Cost of Goods
Question:
Prasad Pasta Manufacturing has the following merchandise account balances: Sales
$180,000, 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. LO6
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Related Book For
Hospitality Financial Accounting
ISBN: 9780471270553
1st Edition
Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel, Agnes L DeFranco
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