To close a temporary account, an amount equal to its balance is recorded in the account on the side opposite to its balance.

Name: To close a temporary account, an amount equal to its balance is recorded in the account on the side opposite to its balance.
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To close a temporary account (like revenue, expense, and dividend accounts), an entry is made for the amount equal to its balance on the opposite side to bring the account balance to zero.

To Close a Temporary Account, an Amount Equal to Its