The purpose of the second closing entry is to: a. Close expense accounts and cost of goods

Question:

The purpose of the second closing entry is to:
a. Close expense accounts and cost of goods sold accounts with debit balances.
b. Close expense accounts and cost of goods sold accounts with credit balances.
c. Close revenue accounts and cost of goods sold accounts with debit balances.
d. Close revenue accounts and cost of goods sold accounts with credit balances.

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