The journal entries to close revenue accounts are to debit the revenue account and credit income summary, which is also a temporary account used for the closing process. The journal entries to ...

A closing entry is a journal entry made at the end of an accounting ... account or an intermediate account known as the income summary account. Income summary is a holding account used to ...

Closing entries are the journal entries recorded at the end ... Beginning Balances and Closing Entries on an Income Summary Beginning Balances and Closing Entries on an Income Summary.