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Presented below is information related to Oriole Corporation for the month of January 2017. Cost of goods sold $219,750 Salaries and wages expense $65,480 Delivery
Presented below is information related to Oriole Corporation for the month of January 2017.
Cost of goods sold | $219,750 | Salaries and wages expense | $65,480 | |||
Delivery expense | 6,340 | Sales discounts | 8,680 | |||
Insurance expense | 12,610 | Sales returns and allowances | 13,680 | |||
Rent expense | 18,240 | Sales revenue | 351,800 |
I tried to solve but I couldn't. ignore the number i put in.
No. Date Account Titles and Explanation Debit Credit 1. Jan. 31 Sales Revenue 351,800 Income Summary 351,800 To close revenue accounts) 2. Jan. 31 Income Summary 351,800 Sales Returns and Allowances 13,680 Sales Discounts 8,680 Cost of Goods Sold 219,750 Delivery Expense 6,340 12,610 Insurance Expense Rent Expense 18,240 Salaries and Wages Expense 65,480 (To close expense accounts) 3. Jan. 31 Income Summary Retained Earnings To close net income (loss)) Click if you would like to Show Work for this question: Open Sh orStep by Step Solution
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