Closing accounts

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Querist : Anonymous (Querist)
23 October 2013 Which of the following accounts would have zero balances after closing entries have been posted?
1.Interest earned account
2.Machinery account
3.Account payable
4. Accoumulated depreciation account
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
23 October 2013 Ans only 1.

Accounts payable will be closed if there is no further transaction with the creditor in future.
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