The following are selected ledger accounts of Nash Corporation at December 31, 2025.
Cash
$170,200
Salaries and wages expense (sales)
$261,280
Inventory
492,200
Salaries and wages expense (office)
318,320
Sales revenue
3,933,000
Purchase returns
13,800
Unearned sales revenue
107,640
Sales returns and allowances
72,680
Purchases
2,563,120
Freight-in
66,240
Sales discounts
31,280
Accounts receivable
131,100
Purchase discounts
24,840
Sales commissions
76,360
Selling expenses
63,480
Telephone and Internet expense (sales)
15,640
Accounting and legal services
30,360
Utilities expense (office)
29,440
Insurance expense (office)
22,080
Miscellaneous office expenses
7,360
Advertising expense
49,680
Rent revenue
220,800
Delivery expense
85,560
Casualty loss (before tax)
64,400
Depreciation expense (office equipment)
44,160
Interest expense
161,930
Depreciation expense (sales equipment)
33,120
Common stock ($10 par)
779,500
Nash's effective tax rate on all items is 20%. A physical inventory indicates that the ending inventory is $686,000.