The entry to close Cost of goods sold results in a debit to Income summary.
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Q92: A company uses the perpetual inventory system.The
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Q94: On November 1,2012,Everett Janitorial Supply sold
Q95: The general ledger shows a balance of
Q96: Which of the following accounts is used
Q98: On November 1,2012,Everett Janitorial Supply sold
Q99: On November 1,2012,Everett Janitorial Supply sold
Q100: When a company uses the perpetual inventory
Q101: Operating income is Gross profit minus Operating
Q102: An adjusted trial balance is shown
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