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can someone correct this? Comprehensive Problem 6 (Part Level Submission) On December 1, 2014, Harrisen Company had the account balances shown below Debits Credits $1,470
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Comprehensive Problem 6 (Part Level Submission) On December 1, 2014, Harrisen Company had the account balances shown below Debits Credits $1,470 2,980 10,700 16,762 $31,912 Cash $6,550 Accumulated Depreciation- Equipment Accounts Receivable Inventory (3,200 x $0.51) Equipment 3,730 Accounts Payable 1,632 Common Stock 20,000 Retained Earnings $31,912 The following transactions occurred during December Dec. 3 Purchased 4,300 units of inventory on account at a cost of $0.69 per unit. 5 Sold 4,700 units of inventory on account for $0.90 per unit. (It sold 3,200 of the $0.51 units and 1,500 of the $0.69.) 7 Granted the December 5 customer $180 credit for 200 units of inventory returned costing $140. These units were returned to inventory 17 Purchased 2,500 units of inventory for cash at $0.81 each 22 Sold 2,300 units of inventory on account for $0.95 per unit. (It sold 2,300 of the $0.69 units.) Adjustment data: 1. Accrued salaries and wages payable $490 2. Depreciation on equipment $140 per month 3. Income tax expense was $160, to be paid next yearStep by Step Solution
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