Question

U. Alle Genele 5 Inbox Ch 1 c E3.2 (L CABE3- C The V C The CG On Jul include s.com/courses/25565/assignments/3777698 Con- Question 20 bort View Policies Current Attempt in Progress Presented below is information related to Blue Corporation for the month of January 2020. Cost of goods sold $208,700 Salaries and ware Salaries and wages expense $55,050 Delivery expense 6,400 8,470 Sales discounts Sales returns and allowances Insurance expense 12,400 12,180 355,100 Rent expense 20,510 Sales revenue Prepare the necessary closing entries. (Credit account titles are automatically indented when amount is entered. Do is required, select "No entry" for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit 1. Jan. 31

Answer 1

rate positively ..

No	Date	Account title	Debit	Credit
1	Jan. 31	sales revenue	355100
		Profit and loss account		355100
2	Jan. 31	Profit and loss account	322350
		Cost of goods sold		208700
		Delivery expenses		5400
		Insurance expense		12400
		Rent expenses		20150
		Salaries and wage expesnes		55050
		Sales discount		8470
		Sales return and allowance		12180
3	Jan. 31	Profit and loss account	32750
		Retained earning		32750