Question 3 4 pts 1. All items with credit balances are still closed to the Income Summary for a company. In a company, usually this closing entry only includes the Revenue general ledger account. In a merchandizing company, Returns and Allowances and Purchase Discounts, as well as will also be closed to the Income Summary, as these all have normal credit balances. Additional accounts with normal debit balances also need to be closed to the Income Summary in a merchandizing company. These include Sales Discounts and Sales Returns and Allowances under a perpetual inventory system