Question: Under a periodic inventory system, closing entries will include a. adjustments to Merchandise Inventory to match physical inventory b. credits to Purchases and Sales Discounts

Under a periodic inventory system, closing entries will include

a. adjustments to Merchandise Inventory to match physical inventory

b. credits to Purchases and Sales Discounts

c. debits to Sales, Purchases Returns and Allowances, and Purchases Discounts

d. All of these choices are correct.

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