After all adjustments have been made, but before the accounts have been closed, the following balances were taken from the ledger of Ramona's Designs: Journalize the entries to close the appropriate accounts.

Ledger

A comprehensive collection of a company's financial transactions, organized by account, used in the double-entry bookkeeping system.

Closing Entries

At the close of an accounting period, transactions are documented to move balances from temporary to permanent accounts.