The balance in the J. Higgins, Withdrawals account was $3,200. The entry to close the account would include a: O A. debit to Income Summary, $3,200. O B. debit to J. Higgins, Capital, $3,200. O C. debit to J. Higgins, Withdrawals, $3,200. OD. credit to Income Summary, $3,200. The adjusting entry to record the expired rent would be to: O A. debit Prepaid Rent Expense; credit Cash. OB. debit Rent Expense; credit Prepaid Rent. OC. debit Cash; credit Prepaid Rent OD. debit Prepaid Rent; credit Cash. Closing entries: O A. need not be journalized since they appear on the worksheet. O B. must be journalized and posted. OC. are not needed if adjusting entries are prepared. OD. are prepared before adjusting entries. Closing entries will affect: O A. Owner's Capital. O B. total assets. O C. Cash O D. total liabilities. T1115 CUCILIUI. IPL Which of the following accounts should not be closed to Income Summary at the end of the fiscal year? O A. Utilities Expense O B. Fees Earned O c. Salaries Expense OD. Withdrawals