Permanent accounts are NOT closed at the end of the period.
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Q48: Using the following worksheet for Alcazar Service
Q49: Supplies is a temporary account.
Q50: Salaries payable is a permanent account.
Q51: Beginning balance in Capital is $80,000.Revenues are
Q52: Asset and liability accounts are closed to
Q54: Using the following worksheet for Alcazar Service
Q55: Supplies expense is a temporary account.
Q56: The last step in the closing process
Q57: Beginning balance in Capital is $10,000.Revenues are
Q58: Capital is a temporary account.
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