Thibodeau company has the following merchandise account


Thibodeau Company has the following merchandise account balances: Sales Revenue $195,000, Sales Discounts $2,000, Cost of Goods Sold $117,000, and Inventory $40,000. Prepare the entries to record the closing of these items to Income Summary.

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Accounting Basics: Thibodeau company has the following merchandise account
Reference No:- TGS0779966

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