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Following is a random list of some of the accounts and their balances on October 3 1 , 2 0 2 3 , for Kaomi
Following is a random list of some of the accounts and their balances on October for Kaomi Products. Kaomi uses a perpetual inventory system, and all account balances are normal. OMIT EXPLANATIONS Inventory $ P Kaomi, Capital Sales revenue Utilities expense Interest revenue Amortization expense Salary expense P Kaomi, Withdrawals Sales returns & allowances Cost of goods sold Interest expense Accounts payable Delivery expense Accounts receivable Sales discounts Cash Insurance expense A physical count on October reveals $ of inventory on hand. a Prepare the entry to adjust the inventory account on October b Prepare the closing entries on October
Following is a random list of some of the accounts and their balances on October for Kaomi Products. Kaomi uses a perpetual inventory system, and all account balances are normal. OMIT EXPLANATIONS
Inventory $ P Kaomi, Capital
Sales revenue Utilities expense
Interest revenue Amortization expense
Salary expense P Kaomi, Withdrawals
Sales returns & allowances Cost of goods sold
Interest expense Accounts payable
Delivery expense Accounts receivable
Sales discounts Cash
Insurance expense
A physical count on October reveals $ of inventory on hand.
a Prepare the entry to adjust the inventory account on October
b Prepare the closing entries on October
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