... Accounts Close the revenue,expense, andwithdrawal accounts.Objective 3 The Accounting Cycle The accounting cycle is the process by which accountants prepare financial statements for an ... expenseTotals12,1001,35025015,5001,00012,00042,2007,5001,2001,1001,5007,20023,70042,200The Accounting Work Sheetâ2002 Prentice Hall, Inc. Business Publishing Accounting, 5/E Horngren/Harrison/Bamber 4 - 9 Accounts Receivable ... 1,700Accounts Receivable 1,350 1,700 3,050Accounts Receivable 1,350 1,700 The Accounting Cycle Long-term Assets and LiabilitiesLong-term assets include all other assets.–property,...