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Problema 4: 10 puntos Bush Company had the following account balances at year-end: cost of...

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Accounting

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Problema 4: 10 puntos 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. Instructions (a) Prepare the adjusting entry necessary as a result of the physical count. (b) Prepare closing entries

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