Question
2: Barkley Company's adjusted trial balance on March 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses: Sales Salaries Expense, Rent
2: Barkley Company's adjusted trial balance on March 31, its fiscal year-end, follows. It categorizes the following accounts as selling expenses: Sales Salaries Expense, Rent Expense-Selling Space, Store Supplies Expense, and Advertising Expense. It categorizes the remaining expenses as general and administrative. Debit Credit Merchandise inventory (ending) Other (noninventory) assets. Total liabilities... C. Barkley, Capital... C. Barkley, Withdrawals. Sales. $ 56,500 202,600 $ 42,500 164,425 3,000 332,650 Sales discounts. 5,875 Sales returns and allowances 20,000 Cost of goods sold. 115,600 Sales salaries expense.. 44,500 Rent expense-Selling space... 16.000 Store supplies expense 3,850 Advertising expense. 26,000 Office salaries expense. 40.750 Rent expense-Office space 3,800 Office supplies expense.. 1,100 Totals. $539,575 $539,575
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