From the following list, identify the accounts that should be closed to Income Summary at the end of the fiscal year a Accounts Receivable b Accumulated DepreciationEquipment c Depreciation ExpenseEquipment d Equipment e Erin Dowley, Capital f Erin Dowley, g Fees Earned h Land i Supplies j Supplies...

From the following list, identify the accounts that should be closed to Income Summary at the end

Question:

From the following list, identify the accounts that should be closed to Income Summary at the end of the fiscal year:
a.
b. Accumulated Depreciation—Equipment
c. Depreciation Expense—Equipment
d. Equipment
e. Erin Dowley, Capital
f. Erin Dowley,
g. Fees Earned
h. Land
i. Supplies
j. Supplies Expense
k. Wages Expense Drawing
l. Wages Payable

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...