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8. Close the books. Prepare the four required closing entries required at the end of each fiscal year. a. Close revenue accounts to the income

8.

Close the books. Prepare the four required closing entries required at the end of each fiscal year.

a.

Close revenue accounts to the income summary account

b.

Close the expense accounts to the income summary account

c.

Close the income summary account to the capital account

d.

Close the drawings account to the capital account

9.

Summarize in a Post closing Trial Balance

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