QUESTION 4 Which of the following steps is the first in the closing process? close dividends to retained earnings close income summary to retained earnings close revenues to income summary close expenses to income summary QUESTION 5 account. The adjusting entry to record expired (used) insurance includes a credit to the insurance expense accounts payable prepaid insurance unearned insurance QUESTION 6 account. The closing entry to close rent expense includes a debit to the rent expense rent payable income summary cash