Question

At the end of an accounting period, state whether each of the following accounts are: a)...

At the end of an accounting period, state whether each of the following accounts are: a) closed with a debit to the account b) closed with a credit to the account c) not closed.

1. cash

2. sales revenues

3. salary expense

4. inventory

5. amortization expense

6. accumulated amortization

7. owner’s withdrawals

Business   Accounting   
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