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Mackenzie Inc. uses a perpetual inventory system and has prepared the following adjusted trial balance on December 3 1 , 2 0 1 9 :
Mackenzie Inc. uses a perpetual inventory system and has prepared the following adjusted trial balance on December :
Mackenzie Inc.
ADJUSTED TRIAL BALANCE
December
ACCOUNT TITLE DEBIT CREDIT
Cash
Accounts Receivable
Allowance for Doubtful Accounts
Inventory
Prepaid Insurance
Land
Buildings and Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Unearned Rent
Income Taxes Payable
Note Payable
Interest Payable
Common Stock
Retained Earnings
Dividends
Income Summary
Sales Revenue
Rent Revenue
Cost of Goods Sold
Selling Expenses
Administrative Expenses
Interest Expense
Income Tax Expense
Totals
For classification purposes:
Note payable is due July
Interest payable is due July
Common Stock shares
Required:
Prepare in proper form for the companys: income statement, retained earnings statement, ending balance sheet, and closing entries in its general journal.
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