Question

Can you please give examples of closing entries

Answer 1

Answer ➡

Closing entries are those journal entries made in a manual accounting system at the end of an accounting period to shift the balances in temporary accounts to permanent accounts.Examples of temporary accounts are the revenue, expense, and dividends paid accounts.

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Answer 2

Closing entries are those journal entries made in a manual accounting system at the end of an accounting period to shift the balances in temporary accounts to permanent accounts. Examples of temporary accounts are the revenue, expense, and dividends paid account