retained earnings are always credited as true of closing entries.
An accounting cycle is a multi-step process that records, summarise, and arranges your financial activities into financial statements. After the majority of the cycle has been finished and financial statements have been prepared, the final stage in the process is known as shutting your books. Making closing entries to move temporary account balances into the firm's permanent accounts is shutting your accounting books.
To know more about closing entries visit the link
https://brainly.com/question/15159925
#SPJ1
