A merchandiser uses a perpetual inventory system. The third step in the process of closing the accounts of a merchandiser is to:
A)make the revenue accounts equal to zero via the Income Summary account.
B)make the Income Summary account equal to zero via the Owner's Name, Withdrawals account.
C)make the expense accounts equal to zero via the Income Summary account.
D)make the Income Summary account equal to zero via the Owners' Name, Capital account.

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The Answer of A merchandiser uses a perpetual inventory system. The third step in the process of closing the accounts of a merchandiser is to:
A)make the revenue accounts equal to zero via the Income Summary account.
B)make the Income Summary account equal to zero via the Owner's Name, Withdrawals account.
C)make the expense accounts equal to zero via the Income Summary account.
D)make the Income Summary account equal to zero via the Owners' Name, Capital account.

A Merchandiser Uses a Perpetual Inventory System