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I wish i could post the answers i have already. I'm just looking for cost of goods sold in the closing entries. It's not 85,900. I tried that Exercise 213 Bush Company had the following account balances at year-end: cost of goods sold $85,000; inventory $15,000; operating expenses $29,000; sales revenue $135,000; sales discounts $1,300; and sales returns and allowances $2,600. A physical count of inventory determines that inventory on hand is $14,100.

Your answer is correct. Prepare the adjusting entry necessary as a result of the physical count. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit LINK TO TEXT

Your answer is partially correct. Try again. Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To close credit balance accounts.) (To close accounts with debit balances.) (To transfer net income to capital.)

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