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Current Attempt in Progress Wildhorse Company has the following merchandise account balances at its September 30 year end: Cost of goods told Freight out Merchandise

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Current Attempt in Progress Wildhorse Company has the following merchandise account balances at its September 30 year end: Cost of goods told Freight out Merchandise inventory Sataries expense $120,000 1.600 21.000 42.000 Sales Sales discounts Sales returns and allowances Supplies $161,500 970 32300 2.600 Prepare the entries to close the appropriate accounts to the income Summary account. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts Date Account Titles and Explanation Debit Credit Sept. 30 (To close Income statement account with credit balance.) Sept. 30 (Todose Income statement accounts with debit balances)

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