Interest income, Rent income, and Sales returns & allowances are temporary accounts, while Inventory is not.
Interest income, Rent income, and Sales returns & allowances are all temporary accounts commonly found in financial statements. They are used to track revenue and expenses for a specific period and are closed at the end of the accounting cycle. On the other hand, Inventory is NOT a temporary account, as it is a permanent account used to track the cost of goods on hand.
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