Problem 3-10 Presented below is the December 31 trial balance of New York Boutique. NEW YORK BOUTIQUE TRIAL BALANCE DECEMBER 31 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory, December 31 Prepaid Insurance Equipment Accumulated Depreciation -Equipment Notes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries and Wages Expense (sales) Advertising Expense Salaries and Wages Expense (administrative) Supplies Expense question 1: post to the T accounts question 2: post closing entries Debit $18,500 32,000 80,000 5,100 84,000 408,000 50,000 6,700 65,000 5,000 $754,300 Credit $700 35,000 28,000 80,600 10,000 600,000 $754,300

Problem 3-10 Presented below is the December 31 trial balance of New York Boutique. NEW YORK BOUTIQUE TRIAL BALANCE DECEMBER 31 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory, December 31 Prepaid Insurance Equipment Accumulated Depreciation -Equipment Notes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries and Wages Expense (sales) Advertising Expense Salaries and Wages Expense (administrative) Supplies Expense question 1: post to the T accounts question 2: post closing entries Debit $18,500 32,000 80,000 5,100 84,000 408,000 50,000 6,700 65,000 5,000 $754,300 Credit $700 35,000 28,000 80,600 10,000 600,000 $754,300

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 7SEB: JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a...

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