Essay
In October,Patnode Inc. ,a merchandising company,had sales of $294,000,selling expenses of $27,000,and administrative expenses of $35,000.The cost of merchandise purchased during the month was $211,000.The beginning balance in the merchandise inventory account was $38,000 and the ending balance was $34,000.
Required:
Prepare a traditional format income statement for October.
Correct Answer:
Verified
Correct Answer:
Verified
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