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Q: Which of the following groups of accounts will have zero balances after the closing process is completed?Allowance for Doubtful Accounts and Uncollectible Accounts Expense Purchases and
Purchases Returns and Allowances Merchandise Inventory and Sales Depreciation Expense and Accumulated Depreciation - Equipment
A: Purchases and Purchases Returns and Allowances is the group of accounts will have zero balances after the closing process is completed.
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Asked 10/8/2011 12:41:45 AM
Updated 7/7/2012 6:22:47 PM
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Purchases and Purchases Returns and Allowances is the group of accounts will have zero balances after the closing process is completed.
Added 10/8/2011 3:07:29 AM
This answer has been added to the Weegy Knowledgebase
Rated bad by bethsands
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The correct answer is: Allowance for Doubtful Accounts and Uncollectible Accounts Expense. I am an accounting student and this question was on a quiz. I am 100% positive on the correct answer.



Added 7/7/2012 6:22:47 PM
Rated good by bethsands
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