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Closing entry

The final bookkeeping entries made at the end of an Accounting period to Transfer income and Expense items to the Balance sheet Account.

Related Terms: 7 Account, Accounting, Balance, Expense, FIN, Inc., Transfer
Other Related Pages: Category: Investor_Relations Starting With: C
Additional Related Terms: 10-K, Account, Accounting, Accounting equation, Accounts receivable, Accounts receivable aging, Accounts receivable turnover, Account statement, Accrual basis accounting, Accrued expense