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On January 1, 2018, Displays Incorporated has the following account balances: Accounts Receivable Supplies Inventory Land $ 42,0ee 39,ee0 45,000 77,000 247,000 s 58,000 48,860 206,000 146.000 S 450,800 $ 450,000 Common Stock Totals From January 1 to December 31, the following summary transactions occur a. Purchased inventory on account for $350,000 b. Sold inventory on account for $670,000. The cost of the inventory sold was $330,000. $596,000 from customers on accounts receivable d. Paid freight on inventory recelved, $44,000. e. Paid $340,000 to inventory suppliers on accounts payable of $349.000. The difference reflects purchase discounts of $9,000 f Paid rent for the current year, $62,000 g. Paid salaries for the current year, $170,000. a. Supplies on hand at the end of the year are $8,000. b. Accrued interest expense on notes payable for the year c Accrued income taxes at the end of January are $38,000. General On January 1, 2018, Displays Incorporated has the following account balances: Accounts Receivable Supplies Inventory Land $ 42,0ee 39,ee0 45,000 77,000 247,000 s 58,000 48,860 206,000 146.000 S 450,800 $ 450,000 Common Stock Totals From January 1 to December 31, the following summary transactions occur a. Purchased inventory on account for $350,000 b. Sold inventory on account for $670,000. The cost of the inventory sold was $330,000. $596,000 from customers on accounts receivable d. Paid freight on inventory recelved, $44,000. e. Paid $340,000 to inventory suppliers on accounts payable of $349.000. The difference reflects purchase discounts of $9,000 f Paid rent for the current year, $62,000 g. Paid salaries for the current year, $170,000. a. Supplies on hand at the end of the year are $8,000. b. Accrued interest expense on notes payable for the year c Accrued income taxes at the end of January are $38,000. General

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