choose the correct term to complete the following statements. After the first 2 steps in the closing process are completed, an organization that has a credit balance in their Income Summary account has earned/incurred Choose... After the first 2 steps in the closing process are completed, an organization that has a debit balance in their income Summary account has earned/incurred The financial statement we prepare before the Statement of Owner's Equity is the The financial statement we prepare after the Statement of Owner's Equity is the In order to transfer the balances out of temporary accounts, we record Please answer parts of the question.) Choose... Income Statement Balance Sheet Closing Entries