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For each of the following accounts, signify which part of the accounting equation would include the account balance. Merchandise inventory [Choose ] Owner's equity Liabilities
For each of the following accounts, signify which part of the accounting equation would include the account balance.
Merchandise inventory [Choose ] Owner's equity Liabilities Freight out expense Assets Sales revenue [Choose ] Cost of goods sold [Choose ] A Sales returns and allowances [Choose ] Sales discounts [Choose ] Accounts receivable [Choose ] 4 Owner's capital [Choose ] Owner's withdrawals [ Choose ] Accounts payable [Choose ]
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