From the following list, identify the accounts that should be closed to Income Summary at the end
Question:
(a) Accounts Payable
(b) Advertising Expense,
(c) Cost of Merchandise Sold,
(d) Merchandise Inventory,
(e) Sales,
(f) Sales Discounts,
(g) Sales Returns and Allowances,
(h) Supplies,
(i) Supplies Expense,
(j) Dividends,
(k) Wages Payable.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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