For matters dealing with specific payments or bank accounts, the student needs to contact the VA directly through their Education Benefits hotline, 1-888-442-4551. The VA will not discuss a studentâs personal payment issues with the WSU Veterans Coordinator, as this constitutes a violation of the Federal Privacy Act.
Closing entries are journal entries made at the end of an accounting period which transfer the balances of temporary accounts to permanent accounts. Closing entries are based on the account balances in an adjusted trial balance. The permanent account to which balances are transferred depend upon the type of business.
There are four steps to complete the closing entries: 1  Look for the revenue accounts in the trial balance, which is the list of all the revenue and capital accounts in the company's ledger. 2  Look for the expense accounts in the trial balance. 3  If the income summary has a credit balance, that is the company's net income.