The following information was taken from the accounts of Helen’s


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The following information was taken from the accounts of Helen’s 2 answers below » The following information was taken from the accounts of Helen’s Groceries, a delicatessen. The accounts are listed in alphabetical order, and each has a normal balance. Accounts payable$600 Accounts receivable 400 Advertising expense 200 Cash 410 Common stock 200 Cost of goods sold 600 Interest expense 70 Merchandise inventory 450 Prepaid rent 40 Retained earnings (Beginning balance) 635 Sales revenue 1,000 Salaries expense 130 Supplies expense 110 Loss on sale of land 25 Required First, prepare an income statement using the single-step approach. Then prepare another income statement using the multi-step approach. Oct 11 2013 07:58 AM

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