Journal entry worksheet < 1 A company had the following balances at year end: sales discounts...

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Journal entry worksheet < 1 A company had the following balances at year end: sales discounts $3,470, sales returns and allowances $2,070 and cost of goods sold $321,200. Close the accounts to income summary. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Sales discounts 3,470 Sales returns and allowances Cost of goods sold 2,070 321,200 Record entry Clear entry View general journal Journal entry worksheet < 1 A company had the following balances at year end: sales discounts $3,470, sales returns and allowances $2,070 and cost of goods sold $321,200. Close the accounts to income summary. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Sales discounts 3,470 Sales returns and allowances Cost of goods sold 2,070 321,200 Record entry Clear entry View general journal