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The following is a list of the accounts and balances taken from the adjusted trial balance at December 31 2021 for Meilleur Merchants. Meilleur uses
The following is a list of the accounts and balances taken from the adjusted trial balance at December 31 2021 for Meilleur Merchants. Meilleur uses a perpetual inventory system and the earnings approach for revenue recognition. The list of accounts is in alphabetical order. All accounts have normal balances. Account Balance Dec. 31 1 Accounts payable $15,000 2 Accounts receivable 30,000 3 Accumulated depreciation-building Accumulated depreciation-equipment 15,500 4 10,000 5 5 Advertising expense 4.300 6 Building 84.600 7 S. Meilleur capital 75,000 8 S. Meilleur, drawings 28,300 9 Cash 4,500 10 Cost of goods sold 235,500 SO A 28 COM C 18 ... MacBook Air 10 235,500 11 Cost of goods sold Depreciation expense Equipment 5,800 12 24,500 13 650 14 Freight out Insurance expense Interest expense 1,550 15 1,720 16 Interest revenue 1,140 17 Land 12,000 18 Merchandise inventory 105,000 19 Mortgage payable Prepaid insurance 57,600 20 21 2,100 1,400 Property tax expense Property taxes payable 22 600 23 Rent revenue 1,900 24 Salaries expense 41,500 25 Salaries payable 650 26 Sales 422,600 22 Property taxes payable 600 23 Rent revenue 1,900 24 Salaries expense 41,500 25 Salaries payable 650 26 Sales 422,600 27 Sales discounts 15,500 28 Sales returns and allowances 17,700 Unearned revenue 23,000 30 Utilities expense 2,200 Prepare a multiple-step income statement for Meilleur Merchant for the year ended December 31, 2021. MEILLEUR MERCHANTS Income Statement $ $ MEILLEUR MERCHANTS Income Statement . MacBook Air MacBook Air Sove torte Attempts: 0 of 1 used Submit Answer MacBook Air
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