In the last step of the closing process, the Owner's Name, Withdrawals account is closed to the Owner's Name, Capital account.

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The last step of the closing process involves closing the temporary accounts (such as revenue, expenses, and withdrawals) to the Owner's Name, Capital account. This means that any remaining balance in the Withdrawals account is transferred to the Owner's Name, Capital account, which represents the owner's equity in the business.

In the Last Step of the Closing Process, the Owner's