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Presented below are selected accounts for Sheffield Company as reported in the worksheet at the end of May 2020.
Complete the worksheet by extending amounts reported in the adjusted trial balance to the appropriate columns in the worksheet.
Accounts Adjusted Trial Balance Income Statement Balance Sheet
Dr. Cr. Dr. Cr. Dr. Cr.
Cash 8,800
Inventory 77,750
Sales Revenue 446,000
Sales Returns and
Allowances 9,210
Sales Discounts 4,730
Cost of Goods Sold 243,700

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Answer:

Accounts         Adjusted T-Balance   Income Statement   Balance Sheet

                               Debit    Credit         Debit  Credit           Debit  Credit

Cash                     $8,800                                                     $8,800

Inventory              $77,750                                                   $77,750

Sales Revenue                   $446,000             $446,000

Sales Returns        $9,210                     $9,210

and  Allowances

Sales Discounts     $4,730                    $4,730

Cost of Goods       $243,700                $243,700

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