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Adjusting Entries/Closing Entries Account Pairs

Match up the two account titles that are commonly used together in adjustments and closing entries for updating the accounting books at the end of the fiscal period. Also a couple of extra questions included to match.
AB
Supplies Expense debitedSupplies credited
Insurance Expense debitedPrepaid Insurance credited
Sales debitedIncome Summary credited
Income Summary (use first) debitedVarious Expense accounts credited
Income Summary (use second) debitedNorma Delk, Capital credited
Norma Delk, Capital debitedNorma Delk, Drawing credited
After you journal the Adjusting/Closing Entries, you must . . ..Post
The form that you post your amounts to . . ..General Ledger


Ann Peake
Tecumseh, MI

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