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1. What is the purposes of adjusting entries? 2. What are the four types of adjusting entries? Explain the purpose of each entry. 3. What

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1. What is the purposes of adjusting entries? 2. What are the four types of adjusting entries? Explain the purpose of each entry. 3. What is the impact of adjusting entries on the Cash account? 4. Explain the closing process and the purpose of the closing entry. 5. Present the formula and interpret the total asset turnover ratio

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