Bush Company Had the Following Account Balances at Year-End: Cost

question 120

Essay

Bush Company had the following account balances at year-end: cost of goods sold $84,700; inventory $15,000; operating expenses $29,000; sales revenue $135,000; sales discounts $1,300; and sales returns and allowances $2,600. A physical count of inventory determines that inventory on hand is $14,100.
Instructions:
(a) Prepare the adjusting entry necessary as a result of the physical count.
(b) Prepare closing entries.

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Definitions:

Diarrheal Diseases

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Immunization

Immunization is the process by which individuals are protected from an infectious disease by administering a vaccine, leading to the production of an immune response.

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Infectious Diseases

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