Section 8.3 - What is the acronym to help you remember "the order"that you close the accounts in? DIER REID CLOSE IDEA

The acronym to remember the order in which you close accounts is **REID**.<br /><br />This stands for:<br /><br />* **R**evenues<br />* **E**xpenses<br />* **I**ncome Summary<br />* **D**rawings (or Dividends for a corporation)<br />