Question
A. Tamarisk, Inc. has the following merchandise account balances: Sales Revenue $202,730, Sales Discounts $1,100, Purchases $155,610, and Purchases Returns and Allowances $39,180. In addition,
A. Tamarisk, Inc. has the following merchandise account balances: Sales Revenue $202,730, Sales Discounts $1,100, Purchases $155,610, and Purchases Returns and Allowances $39,180. In addition, it has a beginning inventory of $54,250 and an ending inventory of $19,890.
Prepare the entries to record the closing of these items to Income Summary using the periodic inventory system.
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Forensic Accounting And Fraud Investigation For Non-Experts
Authors: Stephen Pedneault, Frank Rudewicz, Howard Silverstone, Michael Sheetz
3rd Edition
0470879599, 9780470879597
