Your answers are Hemaining Time 1 hour, 02 minutes. 06 seconds Question Completion Moving to another question will save the one Question Closing entries are made in order to transfer net income (or loss) and owner's drawings to the owner's capital account so that all assets, liabilities, and owner's capital accounts will have zero batances when the next accounting period starts so that accounts ledgers can be prepared, O in order to terminate the business as an operating entity Moving to another question will save this response MacBook Pro 4 E 5 0 6 1 7 V8 m. 3 2