Part 1. Assume that The Place of Exercise 5-5 is owned by Rose Callen and prepare entries
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Part 1. Assume that The Place of Exercise 5-5 is owned by Rose Callen and prepare entries to close the temporary accounts of the business.
Part 2. Construct a balance column Merchandise Inventory account and enter the \(\$ 43,000\) beginning inventory of Exercise 5-5 as its balance on December 31, 1989. Then post to the account the portions of the closing entries that affect the account.
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Kirti Kaushal
Having experience of more than 10 years is good enough to coach my students. Currently, I am working as an active supervisor of ACCA students. In my career, I helped students in financial accounting, management accounting, cost accounting, financial reporting, taxation, and audit. I also helped students publish their articles or papers in good journals. I also helped students with thesis and objective writing.
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