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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 12
Closing entries using periodic inventory system
United Rug Company is a small rug retailer owned and operated by Pat Kirwan. After the accounts have been adjusted on December 31, the following selected account balances were taken from the ledger:
The estimated cost of merchandise returns from December sales is $20,000. Journalize the closing entries.
United Rug Company is a small rug retailer owned and operated by Pat Kirwan. After the accounts have been adjusted on December 31, the following selected account balances were taken from the ledger:
The estimated cost of merchandise returns from December sales is $20,000. Journalize the closing entries.
Explanation
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In order to complete the assessment year...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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