Question: Use the data for the Mendelstein Company in Problem 12 to prepare compound closing entries for the company as of October 31. In Problem 12

Use the data for the Mendelstein Company in Problem 12 to prepare compound closing entries for the company as of October 31.
In Problem 12
Use the data for the Mendelstein Company in Problem 12

Debit Credit Merchandise inventory S 1,400 40,000 Liabilities Joe Mendelstein, capital oe Mendelstein, withdrawals.... 36,340 37,375 3,000 150 96,400 Sales... Sales discounts Purchase returns and allowances 7,500 1,125 43,500 2,150 900 Transportation-in. Sales salaries expens Rent expense, selling space Store supplies expense Advertising expense Office salaries expense Rent expense, office space Office supplies expense Totals... 5,050 17,800 9,200 3,200 9,000 . ..22,000 2,940 . $173,315 173,315

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2014 Closing entries Oct 31 Interest Reven ue 150 Merchandise Inven tory 12600 Sale s 96400 ... View full answer

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