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1. what requires an adjusting entry and what does not? 2. what is adjust entry to record one month of unearned revenue that is now

1. what requires an adjusting entry and what does not?
2. what is adjust entry to record one month of unearned revenue that is now rarned?

3. How much insurance do you expense if you bought it on July, 1st and the year ended on Dec 31, how is it recorded?

4. What is the final step in the accounting cycle, explain?

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