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Closing entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts. An "income summary" account may be used to show the balance between revenue and expenses, or they could be directly closed against retained earnings where dividend payments will be deducted from. This process is used to reset the balance of these temporary accounts to zero for the next accounting period.

https://plato.stanford.edu/entries/turing

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description:link Evolution "Doesn't Need" Mutation - Blaise Agüera y Arcas
Link in episode "Evolution "Doesn't Need" Mutation - Blaise Agüera y Arcas": https://plato.stanford.edu/entries/turing
description:link (Music Removed) #90 - Prof. DAVID CHALMERS - Consciousness i
Link in episode "(Music Removed) #90 - Prof. DAVID CHALMERS - Consciousness in LLMs [Special Edition]": https://plato.stanford.edu/entries/zombies
description:link #90 - Prof. DAVID CHALMERS - Consciousness in LLMs [Special
Link in episode "#90 - Prof. DAVID CHALMERS - Consciousness in LLMs [Special Edition]": https://plato.stanford.edu/entries/zombies
description:link Evolution "Doesn't Need" Mutation - Blaise Agüera y Arcas
Link in episode "Evolution "Doesn't Need" Mutation - Blaise Agüera y Arcas": https://plato.stanford.edu/entries/turing
description:link (Music Removed) #90 - Prof. DAVID CHALMERS - Consciousness i
Link in episode "(Music Removed) #90 - Prof. DAVID CHALMERS - Consciousness in LLMs [Special Edition]": https://plato.stanford.edu/entries/zombies
description:link #90 - Prof. DAVID CHALMERS - Consciousness in LLMs [Special
Link in episode "#90 - Prof. DAVID CHALMERS - Consciousness in LLMs [Special Edition]": https://plato.stanford.edu/entries/zombies