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Closing Accounts for Merchandisers Merchandisers and service companies adjust and close accounts for the same way. The only difference would be the type of account
Closing Accounts for Merchandisers
Merchandisers and service companies adjust and close accounts for the same way. The only difference would be the type of account referenced. At any rate, the merchandiser must still close the account to the zero out all temporary accounts previously listed on the balance sheet.
What are the four steps involved in the closing process for a merchandising company?
The answer to this question I will submit as a discussion question online for my classmates.
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