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The following are selected ledger accounts of Marigold Corporation at December 31, 2020. Cash $177,600 Salaries and wages expense (sales) $272,640 Inventory 513,600 Salaries
The following are selected ledger accounts of Marigold Corporation at December 31, 2020. Cash $177,600 Salaries and wages expense (sales) $272,640 Inventory 513,600 Salaries and wages expense (office) 332,160 Sales revenue 4,104,000 Purchase returns 14,400 Unearned sales revenue 112,320 Sales returns and allowances 75,840 Purchases 2,674,560 Freight-in 69,120 Sales discounts 32,640 Accounts receivable 136,800 Purchase discounts 25,920 Sales commissions 79,680 Selling expenses 66,240 Telephone and Internet expense (sales) 16,320 Accounting and legal services 31,680 Utilities expense (office) 30,720 Insurance expense (office) 23,040 Miscellaneous office expenses 7,680 Advertising expense 51,840 Rent revenue 230,400 Delivery expense 89,280 Casualty loss (before tax) 67,200 Depreciation expense (office equipment) 46,080 Interest expense 168,960 Depreciation expense (sales equipment) 34,560 Common stock ($10 par) 753,760
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