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NEED IT QUICK PLEASE E5-12 The following selected information is for Okanagan Company for the year ended January 31, 2008: Accounts receivable 25,000 Freight in
NEED IT QUICK PLEASE
E5-12 The following selected information is for Okanagan Company for the year ended January 31, 2008: Accounts receivable 25,000 Freight in 10,000 Freight out 7,000 Insurance expense 12,000 Interest expense 6,000 Merchandise inventory, beginning 42,000 Merchandise inventory, ending 61,000 O Pogo, capital 105,000 0. Pogo, drawings 42,000 Purchases 200,000 Instructions (a) Prepare a multiple-step income statement (b) Prepare closing entries. Purchase discounts Purchase returns and allowances Rent expense Salaries expense Salaries payable Sales Sales discounts Sales returns and allowances Unearned sales revenue 1,000 6,000 20,000 61,000 2,500 315,000 4,000 13,000 4,500
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