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Selected accounts and amounts at the end of the period are as follows. Merchandise inventory $45,500 Cost of merchandise sold 652,500 Journalize the closing entry,

Selected accounts and amounts at the end of the period are as follows.

Merchandise inventory $45,500 Cost of merchandise sold 652,500 Journalize the closing entry, assuming a perpetual inventory system.

If an amount box does not require an entry, leave it blank.

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