Which of the following statements about closing entries is false? $($a$)$ The total debits and total credits must be equal for each closing entry $($b$)$ If there has been a net loss for the year, the Income Summary account is closed by a debit $($c$)$ Every revenue and expense account must be closed out to zero $($d$)$ Closing entries are prepared after all transactions and adjusting entries have been prepared adn posted to the general ledger $($e$)$ Only temporary accounts are closed in the closing.