Before the closing journal entries, the balance in the Sales account is $52,000 and cost of goods
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Before the closing journal entries, the balance in the Sales account is $52,000 and cost of goods sold is $18,000. The gross profit would be $34,500
Related Book For
Accounting Principles Part 1
ISBN: 978-1118306789
6th Canadian edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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