Accrued Exoence(CL): due but unpaid Cr
Accrued Income (CA):due but not received Dr
Bad debts(AE): written off Dr
Prepayments(CA): paid in advance Dr
Income in advance(CL): received in advance Cr
Allowance for Doubeful Debts(negative CA): equal accounts receivable Cr
Inventory of Stationery(CA): not been used Dr

sales DR income summary CR (closing entry)
income summary DR purchases, expenses CR (closing entry)
income summary DR Inventory CR (to close inventory)
inventory DR income summary CR (for inventory as per stock sheets A55-B68)
income summary DR capital CR (transfor of profit)
capital DR drawings CR (cloaing entry)

capital expenditure: Assets Unexpived have future benefits
revenue expenditure: Expenses expived have no future benefits
Selling price > Carring amount = loss on sale
Selling price < Carring amount = gain on sale