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Other Fields Homework Help Accounting Topic started by: harra on Sep 19, 2017



Title: State whether the following accounts are:a) closed with a debitb) closed with a creditc) not ...
Post by: harra on Sep 19, 2017
State whether the following accounts are:

a)  closed with a debit
b)  closed with a credit
c)  not closed

1 )   cost of goods sold   ________
2 )   sales returns and allowances   ________
3 )   salary expense   ________
4 )   inventory (assume perpetual inventory system)   ________
5 )   amortization expense   ________
6 )   accumulated amortization   ________
7 )   accounts receivable   ________
8 )   sales discounts   ________
9 )   interest expense   ________
10 )   sales revenue   ________


Title: Re: State whether the following accounts are:a) closed with a debitb) closed with a creditc) not ...
Post by: raovatallpy on Sep 19, 2017
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Title: Re: State whether the following accounts are:a) closed with a debitb) closed with a creditc) not ...
Post by: harra on Dec 31, 2017
Very timely, excellent answer