Question: Under a periodic inventory system, closing entries will include a. Dr. Sales, Purchases Returns and Allowances, Purchases Discounts b. Cr. Purchases, Sales Discounts, Sales Returns

Under a periodic inventory system, closing entries will include a. Dr. Sales, Purchases Returns and Allowances, Purchases Discounts b. Cr. Purchases, Sales Discounts, Sales Returns and Allowances c. Adjusting the Merchandise Inventory account to match physical inventory d. All of the above

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