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Use the following adjusted trial balance to prepare a multiple step income statement: Account title Debit Credit Cash 50,000 Accounts Receivable 97,500 Allowance for
Use the following adjusted trial balance to prepare a multiple step income statement: Account title Debit Credit Cash 50,000 Accounts Receivable 97,500 Allowance for Uncollect/Accts 500 Equipment 10,000 Accumulated Depr 1,000 Accounts Payable 6,000 Notes Payable-Long Term 20,000 Common Stock 40,000 Retained Earnings 20,000 Sales Revenue 400,000 Salaries Expense 63,000 Utilities Expense 57.000 Income Tax Expense 50,000 Cost of Goods Sold 130,000 30.000 Interest Expense
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