Made to close accounts made in temporary accounts.

Income Summery account

Used to summarize the revenue and expenses for the period.

Journal entry with two or more debits or credits.

Post closing trial balance

The last step in the accounting cycle.

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Chapter 10.

Question	Answer
Closing Entries	Made to close accounts made in temporary accounts.
Income Summery account	Used to summarize the revenue and expenses for the period.
Compound entry	Journal entry with two or more debits or credits.
Post closing trial balance	The last step in the accounting cycle.