Which of the following accounts is used ONLY at the end of the accounting period?
A)Sales revenue
B)Cost of sales
C)Net sales revenue
D)Income summary

Name: Which of the following accounts is used ONLY at the end of the accounting period? A)Sales revenue B)Cost of sales C)Net sales revenue D)Income summary
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Question

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Income summary is a temporary account used only at the end of the accounting period to close out revenue and expense accounts and determine the net income or net loss for the period.

Which of the Following Accounts Is Used ONLY at the End