Which of the following statements about the closing process is correct? Mutsiple Choice Closing entries are recorded at the end of each reporting period, which could be monthly, quarterly, or annually Aher closing entries are posted, the balances of the income statement accounts will be zero. Closing entios are made to rero out the balances of the permanent accounts on the bolance shied. Afer closing entries are posted, the only temporary account with b balance is the Dwidends account