blackboard.aic.edu/webapps/assessment take/launch.jsp?course_assess In the closing process, what happens to the Cash account? a. It is zeroed out to Income Summary O b.lt is zeroed out to Current Liabilities c. It is zeroed out directly to Retained Earnings d. It is not involved in closing, and its balance will not change ESTION 2 Prior to closing at December 31, 2021, Paolino, Inc. has the following trial balance Debits Credits 91,000 Assets Liabilities Common Stoock Retained Earrings Dividends Revenues Expenses 33,000 3,000 14.000 85,000 600,000 474,000 650.000 650.000 What amount will Paolino show for retained earnings after closing? O a $126,000 b. $211,000 c. $55,000 ed. $650,000 e $14,000 ESTION 3 Which of the following statements is true? a. The primary difference between the cash and accrual basis methods of accounting concert Click Save and Submit to save und submit. Click Save All Answers to save all answers