In reviewing the accounts of Maribeth Co. at the end of the year, you discover that adjusting

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In reviewing the accounts of Maribeth Co. at the end of the year, you discover that adjusting entries have not been made.

Instructions Write a memo to Maribeth Danon, the owner of Maribeth Co., that explains the following: the nature and purpose of adjusting entries, why adjusting entries are needed, and the types of adjusting entries that may be made.

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