Therefore, it will not appear on any trial balances, including the adjusted trial balance, and will not appear on any of the financial statements. Closing entries prepare a company for
День: 22.03.2021
Closing Entries Definition, Examples, and RecordingClosing Entries Definition, Examples, and Recording
The closing entries are the last journal entries that get posted to the ledger. All expense accounts are then closed to the income summary account by crediting the expense accounts