TUU 101 15. Reversing entries, like any other entries, are posted to the ledger. 102 103 TRUE 104 FALSE 105 106 16. Use this information to answer the following question. 107 108 Account Name Debit Credit cogs beg 109 Sales 293,000 110 Sales Returns and Allowances 10,000 beginvent 111 Purchases 68,000 end invent 112 Purchases Returns and Allowances 8,000 113 Freight-In 12,000 114 Selling Expenses 30,000 115 General and Administrative Expenses 110,000 116 117 In addition, beginning merchandise inventory was $22,000 and ending merchandise inventory was $14,000. 118 119 Net income for the period was $173,000.00 121b. $93,000.00 $63,000.00 123 d $203,000.00 124 120 a. 122 c