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Business, 19.02.2020 17:44 lovely222

XYZ Company uses the periodic inventory system to account for its merchandise purchases. A physical count of inventory at year end revealed that $6,000 of inventory was on hand. Given the partial list of accounts below, show your understanding of the entry to close the temporary debit balance accounts and update the Merchandise Inventory account by selecting all of the correct answers below. (Check all that apply.)

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XYZ Company uses the periodic inventory system to account for its merchandise purchases. A physical...
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