Presented below are selected accounts for B. Midler Company as reported in the worksheet at the end of May 2014. Ending inventory is $75,000.
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Accounts
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Adjusted
Trial Balance
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Income
Statement
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Balance Sheet
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|
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Cash
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9,000
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Inventory
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80,000
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Purchases
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240,000
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Purchase Returns and Allowances
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30,000
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Sales Revenue
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450,000
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Sales Returns and
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Allowances
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10,000
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Sales Discounts
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5,000
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Rent Expense
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42,000
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Instructions
Complete the worksheet by extending amounts reported in the adjustment trial balance to the appropriate columns in the worksheet. The company uses the periodic inventory system.