Question: Selected accounts and amounts appear below. Merchandise inventory Cost of merchandise sold $57,932 514,894 Journalize the closing entry, assuming a perpetual inventory system.

Selected accounts and amounts appear below. Merchandise inventory Cost of merchandise sold

Selected accounts and amounts appear below. Merchandise inventory Cost of merchandise sold $57,932 514,894 Journalize the closing entry, assuming a perpetual inventory system.

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Answer To record the closing balance deduct 456962 from Cost of Merchandise Sold and cre... View full answer

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