Accounting Cycle Example #2: Journalizing Closing Entries (The Two-Entry Method)

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Thank you for joining us for another full accounting cycle example!

Note: I apologize for the marks on the page. I was unaware of the software malfunction.
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Very well teaching with such an organized way, thank you!

PK-htxz
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Made me understand journalizing closing entries easily and fast although the "plugging" part was a new concept to me, thank you!

NATOxMAN
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I'm a little confused on what income summary is. Is it the plug?

ivonnelopez