Solved: Sales discounts 3600 cost of goods sold 110000 rental, Cost Accounting

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Sales discounts 3600 cost of goods sold 110000 rental

The trial balance of Celine's Sports Wear Shop at December 31 shows CLOSING ENTRIES Merchandise Inventory $25,000, Sales $162,400, Sales Returns and Allowances $4,800, Sales Discounts $3,600, Cost of Goods Sold $110,000, Rental Revenue $6,000, Freight-out $1,800, Rent Expense $8,800, and Salaries and Wages Expense $22,000. Prepare the closing entries for the above accounts.

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Cost Accounting: Sales discounts 3600 cost of goods sold 110000 rental

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