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After posting the transactions from Part A, you should have the following account balances. Use this information to prepare either a multiple step income statement
After posting the transactions from Part A, you should have the following account balances. Use this information to prepare either a multiple step income statement or a contribution format income statement Account Name Debit Credit Raw Materials $33,400 Cash $133,100 Work in Process $391,800 Salaries Expense $47,000 Rent Expense $5,100 Advertising Expense $12,000 Sales Commissions Expense $26,000 $21,000 Accumulated Depreciation Depreciation Expense Cost of Goods Sold Sales Revenue $5,000 $203,600 $519,000
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