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Valley CompanyValley CompanySolutionClosing Entries1 Incom

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Valley CompanyValley Company
Solution
Closing Entries:
1. Income Summary A/c Dr. $177,770
To Sales Discounts $2,220
To Sales returns and allowances 13,500
To Cost of goods sold 73,500
To Sales salaries expense 31,400
To Rent expense

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Valley CompanyValley Company Solution Closing Entries: 1. Income Summary A/c Dr. $177,770 To Sales Discounts To Sales returns and allowances $2,220 13,500 To Cost of goods sold 73,500 To Sales salaries expense 31,400 To Rent expense Name: Description: ...
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