From the following list, identify the accounts that should be closed to Income Summary at the end

Question:

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

(a) Accounts Payable,

(b) Advertising Expense,

(c) Cost of Merchandise Sold,

(d) Dividends,

(e) Merchandise Inventory,

(f) Sales, (g) Sales Discounts, (h) Sales Returns and Allowances, (i) Supplies, \section*{EX 5-30} (j) Supplies Expense, (k) Wages Payable.obj. 3

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