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Business, 21.09.2019 00:10 AaronEarlMerringer

Aclosing process under the periodic inventory system, a. sales revenue is closed with a credit via the income summary account b. the beginning merchandise inventory, purchases, and freight in are closed with a debit via the income summary account c. purchase returns and allowances and purchase discounts accounts are closed with a credit via the income summary account d. the ending merchandise inventory balance must be recorded as a debit via the income summary account

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