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At December 31, Wildhorse Company reported the following balances in its accounts: Cost of Goods Sold Finished Goods Inventory $273,000 39,000 The company's balance in its Manufacturing Overhead account at the same date was a debit of $3,640. Prepare the entry to adjust the over- or underapplied overhead amount at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Lisi all debit entries before credit entries.) Account Titles and Explanation Debit Credit Save for

At December 31, Wildhorse Company reported the following balances in its accounts: Cost of Goods Sold Finished Goods Inventory $273,000 39,000 The company's balance in its Manufacturing Overhead account at the same date was a debit of $3,640. Prepare the entry to adjust the over- or underapplied overhead amount at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Lisi all debit entries before credit entries.) Account Titles and Explanation Debit Credit Save for

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At December 31, Wildhorse Company reported the following balances in its accounts: Cost of Goods Sold Finished Goods Inventory $273,000 39,000 The company's balance in its Manufacturing Overhead account at the same date was a debit of $3,640. Prepare the entry to adjust the over- or underapplied overhead amount at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Lisi all debit entries before credit entries.) Account Titles and Explanation Debit Credit Save for
Transcribed Image Text:At December 31, Wildhorse Company reported the following balances in its accounts: Cost of Goods Sold Finished Goods Inventory $273,000 39,000 The company's balance in its Manufacturing Overhead account at the same date was a debit of $3,640. Prepare the entry to adjust the over- or underapplied overhead amount at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Lisi all debit entries before credit entries.) Account Titles and Explanation Debit Credit Save for
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