Question

Using the following data, determine the Revenues section of the income statement in a multiple-step form and in a single-step form.
Rental revenue ........... $ 3,600
Purchase discounts ........... 2,987
Sales ............... 672,121
Cost of goods sold .......... 314,434
Sales discounts .......... 2,732
Sales returns and allowances ..... 3,212


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  • CreatedSeptember 15, 2015
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