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2. what is the purpose of adjusting account? 3.what is the relationship of internal transaction to adjusting process 4.explain how an adjustment can affect both

2. what is the purpose of adjusting account?

3.what is the relationship of internal transaction to adjusting process

4.explain how an adjustment can affect both the income statment and blance sheet. please give anexample.

5. wha y do we need the Accumulated depreciation account?

8. define the term accrued salaries

10. explain who the financial statments are prepared from the worksheet.

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