you have to reset the temporary accounts prior to the new period starting. You must do the closing entries in order to complete this. Please close the appropriate accounts using the journal and ledgers again. Make sure to do a post-closing trial balance to ensure you are still in balance after the closing is finished. Continue to use the Excel templates provided.

Account	Act. #	Debit	Credit
Cash		100640.00
Accounts Receivable		3000.00
Equipment		10100.00
Accumulated Depreciation			210.00
Inventory		850.00
Accounts Payable			11700.00
common stock			100000.00
COGS		750
Sales			6500.00
Sales returns		500.00
Sales Discounts		60.00
Rent Expense		2000.00
Electric Expense		100.00
Depreciation		210.00
Shipping Expense		200.00