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Original journal entries and adjusting journal entry

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Reference no: EM133172236

Discussion 1.

• What are adjusting entries and why are they made? Explain your statements.

• Prepare the original journal entries and the adjusting journal entry for each of the four groups of adjusting entries.

Discussion 2.

• Describe the year-end closing process.

• What are the four steps in the closing process? Provide an example journal entry for each.

• What is the difference between temporary and permanent accounts?

Reference no: EM133172236

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