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5 July, 01:32

Sequence the steps for closing entries.

close the service revenue account

close the dividends account

close the income summary account

close the operating expenses account

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Answers (1)
  1. 5 July, 04:42
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    Step 1: A

    Step 2: D

    Step 3: C

    Step 4: B

    Explanation:

    Sequence for the steps to close entries:

    close the service revenue account by transferring funds to income summary account close the operating expenses account by transferring funds to income summary account close the income summary account by transferring funds to retained earnings account close the dividends account by transferring funds to retained earnings account
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