Tim Jarosz Company had the following adjusted account balances at year-end: Cost of Goods Sold...
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Accounting
Tim Jarosz Company had the following adjusted account balances at year-end: Cost of Goods Sold $40,000, Inventory $20,000, Operating Expenses $22,000, Sales Revenue $110,000, Sales Discounts $1,500, and Sales Returns and Allowances $1,900. Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
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