The adjusted trial balance of Splish Company shows the following data pertaining to sales at...

90.2K

Verified Solution

Question

Accounting

The adjusted trial balance of Splish Company shows the following data pertaining to sales at the end of its fiscal year,
October 31,2025: Sales Revenue $819,500, Delivery Expense $12,610, Sales Returns and Allowances $25,880, and
Sales Discounts $11,450.
(a) Prepare the revenues section of the income statement.
(b) Prepare separate closing entries for (1) sales and (2) the contra accounts to sales. (Credit account titles are
automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for
the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
No.
Account Titles and Explanation
Debit
Credit
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students