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Sales $ 85,000 Expenses: Cost of Goods Sold $ 52,500 Depreciation Expense 6,500 Salaries and Wages Expense 12,500 71,500 Net Income $ 13,500 Accounts Receivable
Sales $ 85,000 Expenses: Cost of Goods Sold $ 52,500 Depreciation Expense 6,500 Salaries and Wages Expense 12,500 71,500 Net Income $ 13,500 Accounts Receivable Decrease $ 4,500 Inventory Increase 8,500 Salaries and Wages Payable Increase 800
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