Reversing entries are the opposite of adjusting entries. ..... True O False After the closing process, the permanent accounts are set back to zero. O True O False The entry to record the adjustment for depreciation on equipment would be a debit to Depreciation Expense - Equipment and a credit to Equipment. O True O False The post - closing trial balance is prepared from: ... O A. the general ledger. B. the income statement column on the worksheet. O c. the balance sheet columns on the worksheet. D. the trial balance columns on the worksheet. The entry to close the Freight - in account will include which of the following? O A. Debit to Freight - Out OB. Debit to Purchases c. Debit to Income Summary O D. Credit to Income Summary