Match each journal entry that follows as one of the types of journal entries (a-c) below.
-Income Summary 597
Rent Expense 200
Supplies Expense 180
Utilities Expense 110
Miscellaneous Exp. 107
A)Journal entries
B)Adjusting journal entries
C)Closing journal entries

Question

Match each journal entry that follows as one of the types of journal entries (a-c) below.
-​Income Summary 597
Rent Expense 200
Supplies Expense 180
Utilities Expense 110
Miscellaneous Exp. 107
A)Journal entries
B)Adjusting journal entries
C)Closing journal entries

Quizplus · Accepted Answer

These journal entries are closing entries because they are transferring balances from temporary accounts (Rent Expense, Supplies Expense, Utilities Expense, and Miscellaneous Expense) to Income Summary in preparation for closing the books at the end of the accounting period.

Match Each Journal Entry That Follows as One of the Types