Question

Prepare closing journal entries for Koehn Company for the year ended December 31. Data for the closing entries are as follows:
Factory overhead, debit and credit balances ......... $199,200
Sales for the year .................. 877,400
Interest revenue .................... 850
Cost of goods sold .................. 581,000
Salaries expense ................... 97,300
Office supplies expense ................ 2,260
Depreciation expense--office equipment ......... 6,040
Utilities expense--office ................ 6,260
Bad debt expense ................... 2,020
Advertising expense .................. 9,100
Interest expense ................... 9,900
Income tax expense .................. 34,700



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  • CreatedJune 07, 2014
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