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Prepare a "Cost of goods sold" section of an income statement given (Note: not all amounts will be used.) Cash Beg. Inventory Acc. Depr. - Eqpt Freight out Accounts payable Land Sales Purchase discounts Equipment Sales R & A Supplies Ending inventory Accounts receivable Purchases Freight in Purchase R & A Sales discounts $ 7,100 1,600 21,300 3,100 2,940 10,000 155,000 700 45,000 1,850 350 2,200 5,800 95,000 2,800 1,800 450 Presented below is the Adjusted Trial Balance for Brinkley Company on December 31, 2014 Prepare the necessary closing entries in general journal form 12. $ 3,000 3,700 1,500 500 18,000 Cash Accounts receivable Prepaid rent Supplies Equipment Accumulated Depreciation Accounts payable Notes payable Interest payable Salaries payable Unearned revenue Jackson, Capital Jackson, Drawing Service revenue Salaries expense Utilities expense Rent expense Supplies expense Depreciation expense Interest expense 1,600 3,000 10,000 120 600 4,360 8,200 Eqpt 3,200 10,000 2,500 1,500 1,600 950 1,200 230 Totals 37,880 37,880
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