The entry to close Cost of sales results in a debit to Income summary.

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Cost of sales is an expense account that represents the direct cost of producing or purchasing the goods sold by a company. To close this account at the end of an accounting period, the total cost of sales is transferred to the Income summary account by debiting it. This is done as part of the closing process to prepare the financial statements for the period.

The Entry to Close Cost of Sales Results in a Debit