The amount in the Subscriptions Sold in Advance account should be carried over from the adjusted trial balance of the 10-column work sheet to which of the following columns?
a. Income statement as a debit
b. Income statement as a credit
c. Balance sheet as a debit
d. Balance sheet as a credit
d
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What will be an ideal response?
Irene's Dress Company, a retailer, had cost of goods sold of $260,000 last year. The beginning inventory balance was $20,000 and the ending inventory balance was $26,000. The company's average inventory turnover in days was closest to:
A) 36.5 days B) 28.08 days C) 32.29 days D) 64.58 days