Question
The following selected information is for Cullumber Company for the year ended January 31, 2024: Delivery expense $7.300 Purchase discounts $12.500 Freightin 6 500 Purchase
The following selected information is for Cullumber Company for the year ended January 31, 2024:
Delivery expense
$7.300
Purchase discounts
$12.500
Freightin
6 500 Purchase returns and allowances
16.200
Insurance expense
12.000
Rent expense
20.100
Interest expense
6.200
Salaries expense
60.900
Merchandise inventory, bezjnning,
61.500
Salaries payable
2.500
Merchandise inventory, ending,
42.500
Sales
323.000
O. G. King, capital
105.000
Sales discounts
14.200
O.G. King, drawings
42.100
Sales returns and allowances
20.200
Purchases
210000
Unearned revenue
4.500
prepare the closing entries
The following selected information is for Cullumber Company for the year ended January 31, 2024:
Delivery expense
$7.300
Purchase discounts
$12.500
Freightin
6 500 Purchase returns and allowances
16.200
Insurance expense
12.000
Rent expense
20.100
Interest expense
6.200
Salaries expense
60.900
Merchandise inventory, bezjnning,
61.500
Salaries payable
2.500
Merchandise inventory, ending,
42.500
Sales
323.000
O. G. King, capital
105.000
Sales discounts
14.200
O.G. King, drawings
42.100
Sales returns and allowances
20.200
Purchases
210000
Unearned revenue
4.500
prepare the closing entries
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