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please help to figure out what is missing Brief Exercise 2-3 T-accounts [LO2-3 The Marchetti Soup Company entered into the following transactions during the month
please help to figure out what is missing
Brief Exercise 2-3 T-accounts [LO2-3 The Marchetti Soup Company entered into the following transactions during the month of June:(1) purchased inventory on account for 240,000 (assume Marchetti uses a perpetual inventory system); (2) paid $59,000 in salaries to employees for work performed during the month; (3) sold merchandise that cost $158,000 to credit customers for $295,000; (4) collected $275,000 in cash from credit customers; and (5) paid suppliers of inventory $220,000. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero except for cash, accounts receivable, and accounts payable that had opening balances of $74,500, $62,000, and $41,000, respectively. (Enter the transaction number in the column next to the amount.) Answer is not complete Accounts Receivable Cash Beg bal 62,000 295,000 Beg bal 74,500 9,000 275,000 275,000 220,000 End bal 82,000 End bal 70,500 Accounts Payable Inventory Beg bal Beg bal 240,000 240,000 158,000 220,000 End bal 20,000 End bal 82,000 Cost of Goods Sold Sales Revenue Beg bal Beg bal 158,000 295,000 Salaries Expense Beg ital. 59,000 End. ital. 5 59,000Step by Step Solution
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