Prepared to make sure the total debits are equal to the total credits in the general ledger after the closing entries have been posted.

When revenue accounts are closed, the Income Summary account is _______.

A journal entry having two or more debits and/or credits

To close an expense account, _____________it.

The account in the general ledger used for summarizing the revenue and expenses for a fiscal period

When closing the withdrawals account, transfer the balance in this account to the

Journal entries made to close out or reduce to zero the balances in the temporary capital accounts and then transfer the net income or loss to the capital account

The post-closing trial balance includes only the ______ accounts.

Closing entries close the net income or net loss into the

Office Supplies would normally have a ___________ balance.

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