When closing the expense account, which of the following accounts will also be closed?
A) Rental Income
B) Merchandise Inventory
C) Sales Returns and Allowances
D) Owner's Capital

Name: When closing the expense account, which of the following accounts will also be closed? A) Rental Income B) Merchandise Inventory C) Sales Returns and Allowances D) Owner's Capital
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Question

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Sales Returns and Allowances is a temporary account like expenses and is closed at the end of the accounting period.

When Closing the Expense Account, Which of the Following Accounts