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ACCT 212 Week 8 Final Exam (TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why

ACCT 212 Week 8 Final Exam

  • (TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required (15 points) and (2) provide an example of the closing of an expense account, Salary Expense in the form of a journal entry.

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