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Title: A merchandiser had sales returns and allowances of $300, sales discounts of $800, cost of goods sold ... Post by: H3Ko on Aug 29, 2016 A merchandiser had sales returns and allowances of $300, sales discounts of $800, cost of goods sold of $14,000, and all other expenses of $4,100. The merchandiser uses a perpetual inventory system. The second entry in the closing process would include ________.
A) a debit to Income Summary for $18,100 B) a debit to Income Summary for $19,200 C) a credit to Income Summary for $18,100 D) a debit to Income Summary for $4,100 Title: Re: A merchandiser had sales returns and allowances of $300, sales discounts of $800, cost of goods ... Post by: .unplugged. on Aug 29, 2016 Content hidden
Title: Re: A merchandiser had sales returns and allowances of $300, sales discounts of $800, cost of goods sold ... Post by: H3Ko on Oct 12, 2016 YES! Can't believe I got this one right. Appreciate the confirmation
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