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The following information is found on the adjusted trial balance of Jim company as of 12/31/2020: Debit Credit Sales Revenue $580,000 Sales Returns and Allowances
The following information is found on the adjusted trial balance of Jim company as of 12/31/2020: Debit Credit Sales Revenue $580,000 Sales Returns and Allowances $15,500 Cost of Goods Sold 300,000 Freight-Out 2,000 Interest Expense 8,000 Wages Expense 94,000 Selling and General Expenses 18,000 Depreciation Expense 24,000 Gain on Sale of Equipment 2,000 Dividends 10,000 Interest Revenue 27,000 Retained Earnings 125,000 Use this information to prepare the 2020 multi-step income statement for Jim in good form
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