From the following list, identify the accounts that should be closed to Tim Button, Capital at the

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From the following list, identify the accounts that should be closed to Tim Button, Capital at the end of the fiscal year under a perpetual inventory system:

(a) Accounts Receivable

(b) Cost of Merchandise Sold

(d) Estimated Returns Inventory

(e) Merchandise Inventory

(f) Sales

(g) Supplies

(h) Supplies Expense

(i) Tim Button, Drawing

(j) Wages Expense.

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 06, 2021 06:04 AM

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From the following list, identify the accounts that should be closed to Tim Button, Capital at the

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ANSWER e Merchandise Inventory i Tim Button Drawing EXPLANATION In a perpetual ...View the full answer

Accounting

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