A Company Had $90,000 of Sales Revenue and $55,000 of Expenses

question 65

Essay

A company had $90,000 of Sales revenue and $55,000 of Expenses. Please provide the second of three year-end closing entries.

---

Definitions:

Collaboration

Working together with one or more individuals or groups to achieve a common goal or complete a task.

Distributive Negotiation

A negotiation strategy that views the resources being negotiated as fixed and limited, leading to a win-lose scenario between the parties.

Zero-Sum

A situation in competitive contexts where one party's gain is exactly balanced by another party's loss.

Salary Premium

Additional compensation over the base salary, often given for specialized skills, exceptional performance, or high-demand roles.