Which of the following steps comes last in the Accounting Cycle? Record adjusting entries Prepare the adjusted trial balance Prepare and post closing entries Prepare financial statements Which of the following options is considered a permanent account? Accounts Receivable Interest Expense Supplies Expense Interest Revenue True or False? Dividends are defined as the accumulation of all income earned by the company from its inception less Retained Earnings. True False Which of the following options is the last closing entry performed? Close Dividends into Retained Earings Close Income Summary into retained Earnings Close Reverve into income Summary Close Expenses into Income Surimary