Which of the following accounts are credited by the closing entries if a company is using the perpetual inventory system?
A) Sales discounts, Sales returns and allowances, and Cost of goods sold
B) Sales returns and allowances, Sales revenue, and Inventory
C) Sales revenue and Cost of goods sold
D) Sales discounts and Sales revenue

Question

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The Answer of Which of the following accounts are credited by the closing entries if a company is using the perpetual inventory system?
A) Sales discounts, Sales returns and allowances, and Cost of goods sold
B) Sales returns and allowances, Sales revenue, and Inventory
C) Sales revenue and Cost of goods sold
D) Sales discounts and Sales revenue

Which of the Following Accounts Are Credited by the Closing