Question: answer pls 2. Which Asset account/s appears in the Statement of Financial Position of a merchandising Business but not in a Service Firm? 3. What

answer pls

2. Which Asset account/s appears in the Statement of Financial Position of a merchandising Business but not in a Service Firm? 3. What is the primary revenue account in a merchandising business? Can a Merchandising business have a Service Income account? 4. In your own words, what is the Purpose of Closing Entries? 5. Explain the 4 steps in Preparing the Closing Entries

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