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Which is the correct order of the steps in accounting cycle

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Reference no: EM132960850

Problem 1: Which is the correct order of the following steps in the accounting cycle?

Option 1: Prepare financial statements, journalize and post adjusting entries, journalize and post the closing entries, and prepare a post-closing trial balance.

Option 2: Prepare an unadjusted trial balance, journalize and post adjusting entries, journalize and post the closing entries, and prepare financial statements.

Option 3: Journalize and post adjusting entries, journalize and post the closing entries, prepare financial statements, and prepare an adjusted trial balance.

Option 4: Prepare an unadjusted trial balance, journalize and post adjusting entries, prepare financial statements, and journalize and post the closing entries.

Reference no: EM132960850

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