mustafaserang9132 mustafaserang9132
  • 12-04-2019
  • Computers and Technology
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The Sales​ Revenue, Delivery​ Expense, and Sales Discounts Forfeited accounts will be closed via the​ ________ account.

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MrsSeifried MrsSeifried
  • 12-04-2019

The correct answer is the Income Summary Account.

The Sales Revenue, Delivery Expense, Sales Discounts and Forfeited accounts are all temporary accounts. These accounts are closed out into the Income Summary account at the end of the reporting period. When they are closed out they will be brought down to a zero balance, which is the balance that they will start the next accounting cycle with.

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