Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

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Closing the accounts of a merchandiser
From the following list, identify the accounts that should be closed to Income Summary at the end of the fiscal year under a perpetual inventory system: (A) Accounts Payable, (B) Advertising Expense, (C) Cost of Goods Sold, (D) Dividends, (E) Inventory, (F) Sales, (G) Supplies, (H) Supplies Expense, (I) Wages Payable.