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Homework answers / question archive / How to post a correct journal entry and multistep income sheet?Descriptions of items that require adjusting entries on January 31, 2019, follow

How to post a correct journal entry and multistep income sheet?Descriptions of items that require adjusting entries on January 31, 2019, follow

Accounting

How to post a correct journal entry and multistep income sheet?Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $2,950. b. Expired insurance, an administrative expense, for the fiscal year is $1,880. c. Depreciation expense on store equipment, a selling expense, is $6,300 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,560 of inventory is still available at fiscal year-endHow do I prepare a General Journal? Omit the multistep income statement.

 

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