| questions | |
| what is the income summary used for | |
| in a closing entry, is revenue debited or credited | |
| what side does income summary increase on when your closing expense | |
| how many closing entries are required | |
| is the caital debited or credited in net income | |
| true/false withdrawals is debited in a closing entry | |
| what is closed in the third closing entry | |
| what step is the closing entry in the accounting cycle | |
| what do you do after you close the temporary accounts | |
| what is revenue recognition | |