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, Prepare Income Statement of Sun Trader for the year ended Dec 31,2020. Sales 500,000 Merchandise Inventory (Opening) 100,000 Sales return 3,000 Sales discount 2,000
, Prepare Income Statement of Sun Trader for the year ended Dec 31,2020.
| Sales | 500,000 |
| Merchandise Inventory (Opening) | 100,000 |
| Sales return | 3,000 |
| Sales discount | 2,000 |
| Purchases | 50,000 |
| Transportation | 10,000 |
| Merchandise Inventory (Ending) | 20,000 |
| Purchase return | 3,500 |
| Purchase discount | 2,500 |
| Rent Expense | 25,000 |
| Salaries Expense | 50,000 |
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