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Prepare Income statement

Prepare Income statement

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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Prepare Income statement?

December 31, 2025 Accounts Debit Credit Cash Accounts Receivable Allowance for Bad Debts Inventory Prepaid Advertising Supplies Accounts Payable Unearned Revenue Long-Term Note Payable 105,800 14,600 1,900 10,000 1,200 4,200 14,200 12,000 7,000 72,900 28,800 74,200 Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Wages Expense Utility Expense Advertising Expense Totals 40,200 10,700 3,400 20,900 211,000 211,000 ng & Other Entries
Transcribed Image Text:December 31, 2025 Accounts Debit Credit Cash Accounts Receivable Allowance for Bad Debts Inventory Prepaid Advertising Supplies Accounts Payable Unearned Revenue Long-Term Note Payable 105,800 14,600 1,900 10,000 1,200 4,200 14,200 12,000 7,000 72,900 28,800 74,200 Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Wages Expense Utility Expense Advertising Expense Totals 40,200 10,700 3,400 20,900 211,000 211,000 ng & Other Entries
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