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The financial year for Crystal Catering Services ends on 30 June. After analysing the accounting records and other data for the business of Crystal Catering Services, the following information is made available for the year ended 30 June 2020.
Required: Problem 1: Using the information above, make the necessary adjusting entries for Crystal Catering Services for the year ended 30 June 2020.
Problem 2: Compare and contrast the purposes of adjusting entries, closing entries and reversing entries.
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