Presented below isinformation related to Sunland Company for the month of January 2020 530 260...
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Presented below isinformation related to Sunland Company for the month of January 2020 530 260 Ending inventory per perpetual records Ending Inventory actually on hand Cost of goods sold Freiht-out Insurance expense Rent expense Salaries and wages opens Sales discounts Sales returns and allowances Sales revenue $12.370 21030 55,450 11.029 14.710 414450 29.560 219,470 6.550 Prepare the necessary adjusting entry for inventory. (Creditoccounttities are automatically indented when amounts entered Do noindent manually. If no entry is required, select "No Entry for the account titles and enter for the Debit Credit Account Titles and Explanation Cost of Goods Sold 700 Inventory e Textbook and Media List of Accounts Prepare the necessary closing entries (Credit account titles are automatically indented when amount is entered Danoindent morally no entry is required, select "No Entry for the accountities and enter for the amounts) Amunt Titles and Explanation Debit Credit Sales Revenue 414450 Income Summary To dose account with credit balances) Incomemary Gout of Good Sold Reghe-Out Rent Expende 21050 Salaries and wages Expen Second Sales and allowances 34710 To close with debt balances) incore redaning To dos income
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