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Martinez Company has the following account balances: Sales Revenue $220,800, Sales Discounts $2,810, Cost of Goods Sold $133,000, and Inventory $46,700.

Martinez Company has the following account balances: Sales Revenue $220,800, Sales Discounts $2,810, Cost of Goods Sold $133,000, and Inventory $46,700.

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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It’s pretty self explanatory but I am struggling and stressing with this subject please help
Pr iCampus H Week 2 -AX WD Week 5 -AX O Ch 5: AcCo X O NGCP O NGCP O NGCP education.wiley.com/wpngcp/index.html#/prod/weygandtEPROF18451/chap/weygandtEPROF18451c05/sec/weygandtEPROF. Guest Current Attempt in Progress Martinez Company has the following account balances: Sales Revenue $220,800, Sales Discounts $2,810, Cost of Goods Sold $133,000, and Inventory $46,700. Prepare the entries to record the closing of these items to Income Summary. (Credit account titles are automatically Indented when amount Is entered. Do not Indent manually.) Account Titles and Explanation Debit Credit (To close accounts with credit balances) (To cose accounts with debit balances) List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer DELL
Transcribed Image Text:Pr iCampus H Week 2 -AX WD Week 5 -AX O Ch 5: AcCo X O NGCP O NGCP O NGCP education.wiley.com/wpngcp/index.html#/prod/weygandtEPROF18451/chap/weygandtEPROF18451c05/sec/weygandtEPROF. Guest Current Attempt in Progress Martinez Company has the following account balances: Sales Revenue $220,800, Sales Discounts $2,810, Cost of Goods Sold $133,000, and Inventory $46,700. Prepare the entries to record the closing of these items to Income Summary. (Credit account titles are automatically Indented when amount Is entered. Do not Indent manually.) Account Titles and Explanation Debit Credit (To close accounts with credit balances) (To cose accounts with debit balances) List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer DELL
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