![]() ![]() ![]() ![]() Sales Sales discounts $ 1, 578, 500 31, 150 Depreciation of office furniture and equipment $ 7, 250 Cost of goods sold 896, 770 Real estate and other local taxes 7, 320 Sales salaries 56, 260 Bad debt expense-selling 4, 850 Sales commissions 97, 600 Building expense-prorated Travel expense-salespersons 28, 930 to administration 9, 130 Freight-out 21, 400 Miscellaneous office expenses 6, 000 Entertainment expense 14, 820 Sales returns 62, 300 Telephone and Internet expense-sales 9, 030 Dividends received 38, 000 Depreciation of sales equipment 4, 980 Bond interest expense 18, 000 Building expense-prorated to sales 6, 200 Income taxes 102, 000 Miscellaneous selling expenses 4, 715 Depreciation understatement due Office supplies used 3, 450 to error-2007 (net of tax) 17, 700 Telephone and Internet expense- Dividends declared on administration 2, 820 preferred stock 9, 000 Dividends declared on common stock 37, 000 \begin
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