3:16 docs.google.com Accounts that appear in the balance sheet are often called permanent or temporary accounts. True False O This is a required question The Income Summary account is used to close all other temporary accounts at the end of an accounting period. True False This is a required question After posting the entries to close all revenue and expense accounts, Hatfield Company's Income Summary account has a credit balance of $6,000, and the Hatfield, Withdrawals account has a debit balance of $2,500. These balances indicate that profit for the accounting period amounted to $3,500. True P O False