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Really need some help on this! The answer for the interest expense is NOT 24. It has said that is wrong. I will rate! Many
Really need some help on this! The answer for the interest expense is NOT 24. It has said that is wrong.
I will rate!
Many thanks and God bless!
S5-10 (similar to Question Help Caitlyn Communications reported the following figures from its adjusted trial balance for its first year of business, which ended on July 31, 2018: (Click the icon to view the accounts and balances.) Prepare Caitlyn Communications's multi-step income statement for the year ended July 31, 2018. (Use a minus sign or parentheses to show other expenses.) Caitlyn Communications Income Statement Year Ended July 31, 2018 Net Sales Revenue $ 28,200 Cost of Goods Sold 18,600 - X Data Table 9,600 Gross Profit Operating Expenses: Administrative Expenses Selling Expenses $ Cash $ 3,500 $ 18,600 3,600 1,000 1,000 Cost of Goods Sold Equipment, net Accrued Liabilities 10,000 4,600 5,100 1,600 Operating Income 5,000 5,524 Selling Expenses Accounts Payable Common Stock Notes Payable, long-term Merchandise Inventory Administrative Expenses Net Sales Revenue Accounts Receivable 28,200 2,900 400 1,200 Interest Expense 24 Interest Expense 3,600 $ 4.976 Net Income (Loss) Print Done Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All CheckStep by Step Solution
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