Question: The closing process involves separate entries to close (1) expenses, (2) drawings, (3) revenues, and (4) income summary. The correct sequencing of the entries is

The closing process involves separate entries to close (1) expenses, (2) drawings, (3) revenues, and (4) income summary. The correct sequencing of the entries is

(3), (2), (1), (4)

(1), (2), (3), (4)

(3), (1), (4), (2)

(4), (3), (2), (1)

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