Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which of the following accounts require closing entries? Accounts Answer Sales Purchase discount Purchase Rent income Sales return and allowances Freight in Account receivable Supplies
Which of the following accounts require closing entries?
| Accounts | Answer |
| Sales | |
| Purchase discount | |
| Purchase | |
| Rent income | |
| Sales return and allowances | |
| Freight in | |
| Account receivable | |
| Supplies | |
| Unearned revenue | |
| Accumulated depreciation | |
| Prepaid Insurance | |
| Drawing | |
| Salaries expense | |
| Service revenue | |
| Wages payable |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Accounting A User Perspective
Authors: Robert E. Hoskin, Maureen R. Fizzell, Donald C. Cherry
4th Canadian Edition
0470834455, 978-0470834459
