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  3. adjusted recount balances debit credit merchandise

Adjusted recount Balances Debit Credit Merchandise inventory (ending) $41,000 other (non-inventory) assets 130,400 Total liabilities...

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Accounting

Adjusted recount Balances Debit Credit Merchandise inventory (ending) $41,000 other (non-inventory) assets 130,400 Total liabilities $25,000 Comnon stock 10,000 Retained earnings 94,550 Dividends 8,000 Sales 225,600 Sales discounts 2,250 Sales returns and allowances 12,000 Cost of goods sold 74,500 Sales salaries expense 32,000 Rent expense-selling space 8,000 Store supplies expense 1,500 Advertising expense 13,000 a office salaries expense 28,500 ^(4)= Rent expense-Office space 3,600 office supplies expense 400 Totals $355,150 $355,150 Beginnting merchandise inventory was $25,400. Supplementary records of merchandising activities for the year ended August 31 reveal the following itemized costs. Invoice cost of merchandise purchases Purchases discounts recei

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