Which of the following accounts should be closed to Owner's Equity at the end of the fiscal year? O A Merchandise Inventory OB. Accumulated Depreciation O Drawing OD. Cost of Merchandise Sold QUESTION 19 After taking a physical eventory count, company determined that it had experienced normal investery shrinkage. The went to record they shrinkage will be recorded in the journal with the following only O A Debit Merchandise Inventory, credit Cost of Merchandise Sold O B. Debit Merchandise Inventory, credit Income Summary O Debit Cost of Merchandise Sold; credit Merchandise foventory OD. Debit Cost of Merchandise Sold, credit Income Summary QUESTION 20 When purchases of merchandise are made for cash, the transaction may be recorded in the journal with the following entry O A Debit Merchandise Inventory, credit Cash OB. Debit Merchandise Inventory, credit Accounts Payable O Debit Merchandise Inventory, credit Sales OD. Debit Merchandise Inventory, credit Cost of Merchandise Sold