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The trial balance of Beads and Bangles at December 31 shows Inventory $21, 700, Sales Revenue $160, 100, Sales Returns and Allowances $4,000, Sales Discounts
The trial balance of Beads and Bangles at December 31 shows Inventory $21, 700, Sales Revenue $160, 100, Sales Returns and Allowances $4,000, Sales Discounts $3, 250, Cost of Goods Sold $96, 200, Interest Revenue $4, 900, Freight-Out $2, 050, Utilities Expense $7, 600, and Salaries and Wages Expense $20, 100. Prepare the closing entries for Beads and Bangles
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