As of the census of 2000, there were 4,974 people, 1,432 households, and 1,151 families residing in the city. The population density was 894.1 people per square mile (345.4/kmÂ²). There were 1,485 housing units at an average density of 266.9 per square mile (103.1/kmÂ²). The racial makeup of the city was 52.21% White, 1.43% Black or African American, 1.23% Native American, 0.46% Asian, 0.16% Pacific Islander, 40.79% from other races, and 3.72% from two or more races.
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.
After all closing entries have been finished, only the permanent balance sheet and income statement accounts will have balances that are not zeroed. For example, revenue, dividend, or expense accounts are temporary accounts that need to be zeroed off and the balance transfered to permanent accounts. The sequence of the closing process and the associated closing entries is: 1. Close revenue accounts to income summary, by debiting revenue and crediting income summary.