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The adjusted trial balance data given below is from the Morgan Company’s worksheet for the...

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Accounting

The adjusted trial balance data given below is from the Morgan Company’s worksheet for the year ended December 31, 2019. The expense accounts numbered 611-615 represent selling expenses, and those numbered 621-631 represent general and administrative expenses.

ACCT.ADJUSTED TRIAL
BALANCE
NO.ACCOUNT NAMEDEBITCREDIT
399Income Summary73,00064,000
401Sales390,000
451Sales Returns and Allowances5,300
491Interest Income890
501Purchases195,000
502Freight In4,400
503Purchases Returns and Allowances3,000
504Purchases Discounts3,300
611Sales Salaries Expense68,000
613Advertising Expense3,500
615Travel Expense12,900
621Office Salaries Expense19,700
623Office Supplies Expense890
625Utilities Expense5,900
627Payroll Taxes Expense2,900
629Uncollectible Accounts Expense1,490
631Depreciation Expense - Office Equipment690
691Interest Expense3,000

Prepare a classified income statement for the year ended December 31, 2019.

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