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The income statement for Avery Company for the year

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The income statement for Avery Company for the year The income statement for Avery Company for the year ended December 31, 2008 is as follows: AVERY COMPANY Income Statement For the Year Ended December 31, 2008 Revenues Sales……………………………………………………………………………… $55,000 Interest revenue………………………………………………………………. 3,000 Total revenues…………………………………………………………… 58,000 Expenses Cost of goods sold…………………………………………………………… $36,000 Selling expenses …………………………………………………………….. 7,000 Administrative expenses…………………………………………………… 5,000 Interest expense ……………………………………………………………… 1,000 Total expenses ………………………………………………………….. 49,000 Net income ……………………………………………………………………………….. $ 9,000 Prepare the entries to close the revenue and expense accounts at December 31, 2008. You may omit explanations for the transactions. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

The income statement for Avery Company for the year

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