The drawing account is closed to the income summary account.
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Q14: Unearned revenues that will be earned in
Q19: Examples of temporary accounts are supplies and
Q20: Accrued expenses are ordinarily listed on the
Q27: The drawing account is a temporary account.
Q31: Closing entries are entered directly on to
Q32: The income summary account is closed to
Q32: The balance sheet accounts are referred to
Q36: The income statement is prepared from the
Q37: Journalizing and posting closing entries must be
Q40: Accumulated Depreciation is a permanent account.
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