Question

Inventory 12/31/17 $59,030 Cost of Goods Sold $224,679 Common Stock 76,110 Selling Expenses 16,230 Retained Earnings 45,580 Administrative Expenses 38,719 Dividends 18,337 Income Tax Expense 30,480 Sales Returns and Allowances 11,914 Sales Discounts 15,020 Sales Revenue 417,650 Prepare closing entries for Wildhorse Co. on December 31, 2017.

Answer 1

Prepare closing entries for Wildhorse Co. on December 31, 2017

Step-by-step explanation:

Sales revenue 417.650

Sales discount 15.020

Cost of goods 224.679

Selling expense 16.320

Administrative expense 38.719

Income tax expense 30.480

sales return and allowance 11.914

retained earnings 104.346