Brief Exercise 3-11 Blossom has year-end account balances of Sales Revenue $839,807, Interest Revenue $13,020, Cost of Goods Sold $534,832, Administrative Expenses $193,450, Income Tax Expense $32,693, and Dividends $19,345.
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On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $74,600 and $3,700, respectively. During the year Kincaid reported $208,000 of credit sales.
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