E S TETSSIBILITIES 14 XYZ Products, Selected Accounts from the Adjusted Trial Balance dated December 31, 2018 Sales 426,000 426,000 Sales returns 13.00 13,000 stion Inventory 28,902 Purchase discounts 2,370 Purchase returns 5,000 Transportation In 2,346 Josh Anderson, (Proprietor) 2,800 CR Sales discounts. 7,000 Depreciation expense 10,000 Purchase allowances 4,000 Sales allowances 6,000 Purchases 246,000 Purchases 246,000 Property tax expense 14,625 Store supplies expense 3,814 Wages expense 62,375 REQUIRED (NOTE THAT ALL ACCOUNTS HAVE THEIR NORMAL DEBIT OR CREDIT BALANCES): The inventory on hand at December 31, 2018 was $25,878. Part A. Prepare ONLY the Cost of Goods Sold Sections for a periodic Income Statement (8 marks) Part B. Prepare ONLY the Closing Entry to Close Temporary Accounts with Credit Balances and Set Up Ending Invent