$(1)$ What is a temporary account and which specific accounts or types of accounts are considered temporary?

$(2)$ Is "Owner's Capital" a temporary or permanent account? Please explain what happens to this account during the closing process.

$(3)$ Please post both journal entries for the $2-$Step closing process using ONE of the scenarios below. If needed, please review the examples in Chapter $4$ for guidance.

Please indicate which scenario you are answering and include the date for each. Assume the period ends December $31$ for either scenario.