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Pablo87
Nov 16, 2008, 07:49 PM
After closing entries are made to the ledger, the balances in the ledger reflect the income statement accounts. True or False?
pready
Dec 12, 2008, 05:51 PM
Closing entries are used to close out temporary accounts to permanment acocunts.

Income Statement accounts are temporary accounts and Balance Sheet accounts are Permanment accounts.