The following account balances were included in the trial balance of Windsor Corporation at June 30, 2017. Sales revenue $1,588,850 Depreciation expense (office furniture and equipment) $7,509 Sales discounts 31,500 Property tax expense 7,157 Cost of goods sold 905,200 Bad debt expense (selling) 5,267 Salaries and wages expense (sales) 57,360 Maintenance and repairs expense (administration) 9,263 Sales commissions 99,490 Office expense 6,490 Travel expense (salespersons) 33,800 Sales returns and allowances 59,921 Delivery expense 22,030 Dividends received 37,150 Entertainment expense 15,000 Interest expense 19,390 Telephone and Internet expense (sales) 9,200 Income tax expense 99,790 Depreciation expense (sales equipment) 4,659 Depreciation understatement due to error2014 (net of tax) 18,083 Maintenance and repairs expense (sales) 5,870 Dividends declared on preferred stock 8,500 Miscellaneous selling expenses 5,176 Dividends declared on common stock 37,570 Office supplies used 3,606 Telephone and Internet expense (administration) 2,678 The Retained Earnings account had a balance of $338,360 at July 1, 2016. There are 87,330 shares of common stock outstanding.

Problem 4-4 (Part Level Submission) The following account balances were included in the trial balance of Windsor Corporation at June 30, 2017. $7,509 Sales revenue Sales discounts $1,588,850 31,500 Depreciation expense (office furniture and equipment) Property tax expense Bad debt expense (selling) 7,157 Cost of goods sold 905,200 5,267 57,360 Maintenance and repairs expense (administration) 9,263 Salaries and wages expense (sales) Sales commissions 6,490 99,490 33,800 Travel expense (salespersons) Office expense Sales returns and allowances Dividends received 59,921 37,150 Delivery expense 22,030 Entertainment expense Interest expense 19,390 15,000 9,200 99,790 4,659 Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Income tax expense Depreciation understatement due to error-2014 (net of tax) Dividends declared on preferred stock Dividends declared on common stock 5,870 18,083 8,500 37,570 5,176 Office supplies used 3,606 Telephone and Internet expense (administration) 2,678 The Retained Earnings account had a balance of $338,360 at July 1, 2016. There are 87,330 shares of common stock outstanding