accounts payable-611 accounts receivable- 411 Advertising expense- 200 cash-421 common stock-211 cost of goods sold-700 Interest expense- 59 merchandise inventory-340 prepaid rent-51 retained earnings-646 Sales revenue- 1110 salaries expense- 240 rent expense- 100 loss of sale of land-56

prepare a income statement for the year using a single step and multi-step approach