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Sinclair Company operates membership warehouses selling food, appliances, consumer electronics, apparel, and other household goods. Selected information from the company's balance sheets follows. a .
Sinclair Company operates membership warehouses selling food, appliances, consumer electronics, apparel, and other household goods. Selected information from the company's balance sheets follows.
a During the current fiscal year, Sinclair collected $ million cash for membership fees. Use the financial statement effects template to record the cash collected for membership fees.
b Sinclair recorded merchandise costs cost of goods sold of $ million in the current fiscal year. Record this transaction in the financial statement effects template.
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