{"id":52494,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/juan-morales-company-had-the-following-account-balances-at-year-end-cost-of-goods-sold-60000-inventory-15000-operating-expenses-29000"},"modified":"2017-08-16T12:46:33","modified_gmt":"2017-08-16T12:46:33","slug":"juan-morales-company-had-the-following-account-balances-at-year-end-cost-of-goods-sold-60000-inventory-15000-operating-expenses-29000","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/juan-morales-company-had-the-following-account-balances-at-year-end-cost-of-goods-sold-60000-inventory-15000-operating-expenses-29000\/","title":{"rendered":"Juan Morales Company had the following account balances at year-end: Cost of Goods Sold $60,000, Inventory $15,000, Operating Expenses $29,000,&#8230;"},"content":{"rendered":"<p>Juan Morales Company had the following account balances at year-end: Cost of Goods Sold $60,000, Inventory $15,000, Operating Expenses $29,000, Sales Revenue $115,000, Sales Discounts $1,200, and Sales Returns and Allowances $1,700. A physical count of inventory determines that merchandise inventory on hand is $13,900.<\/p>\n<p>a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepare the adjusting entry necessary as a result of the physical count.<\/p>\n<p>b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepare closing entries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Juan Morales Company had the following account balances at year-end: Cost of Goods Sold $60,000, Inventory $15,000, Operating Expenses $29,000, Sales Revenue $115,000, Sales Discounts $1,200, and Sales Returns and Allowances $1,700. A physical count of inventory determines that merchandise <a href=\"https:\/\/www.benedictsol.com\/blogs\/juan-morales-company-had-the-following-account-balances-at-year-end-cost-of-goods-sold-60000-inventory-15000-operating-expenses-29000\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-52494","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/52494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=52494"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/52494\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=52494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=52494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=52494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}