Presented below is information for Blue Ribbon Company for the month of December 2020. ...
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Accounting
Presented below is information for Blue Ribbon Company for the month of December 2020.
| Cost of goods sold | 270,000 | Supplies expense | 10,000 |
| freight-out | 20,000 | sales discount | 5,000 |
| depreciation expense | 10,000 | sales return and allowances | 9,000 |
| rent expense | 50,000 | Sales revenue | 510,000 |
Instructions: Prepare an income statement for the month ended December 31, 2020
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