a Hall company has the following merchandising account balance sales revenue 186470 sells discount 1340 purses 105,690 and purchase return and allowance 30900. in addition it has a beginning inventory of 14603 and an ending inventory of 33102. prepare the entries to record the closing of these items to income summaries using periodic inventory system

gnment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 5-14 A. Hall Company has the following merchandise account balances: Sales Revenue $186,470, Sales Discounts $1,340, Purchases $105,690, and Purchases Returns and Allowances $30,900. In addition, it has a beginning inventory of $14,603 and an ending inventory of $33,102. Prepare the entries to record the closing of these items to Income Summary using the periodic inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To close accounts with credit balances) I (To close accounts with debit balances) SHOW LIST OF ACCOUNTS Show all