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Hi can you help me solve these thanks Question 1.48 Which of the following accounts would be closed at the end of the period? O

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Question 1.48 Which of the following accounts would be closed at the end of the period? O Unearned revenue O Wages payable O Insurance expense O Accounts receivable x Question 1.49 Calico corners earned sales revenues for the year totaling $62,500 and incurred expenses of $50,000. Which of the appropriate closing entry account at the end of the period? o Debit sales revenues $62,500, Credit owner's capital $12 500 O Debi sales revenues $62 500, credit Expenses $50000 and credit owner's Capital $12.500 O Debit sales revenue $62,500, credit net income $62 500 Debit Owner's Capital $62,500, Credit sales revenue $62 500

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