Book 2 - Chapter 21

21-1, continued

Kutztown Company Income Statement For the Year Ended December 31, 2008
Revenues		$ 287,550
Net sales		300
Interest revenue		287,850
Total revenues
Expenses
Cost of goods sold	$112,870
Selling expenses	59,370
Administrative expenses	43,350
Interest expense	1,700
Total expenses		217,290
Net income

Learning Goal 21, continued

SOLUTIONS

Learning Goal 21: Complete the Period-End Procedures—Periodic Method

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