Address the scenario below in your initial post:

Your roommate, an accounting major, is working part time at Modern Dry Cleaners. She just came home from work and is complaining because the owner wants her to prepare year-end adjusting entries. Roomie contends that because the business is relatively small and because they will not make too significant an impact on the financial condition of the business, adjusting entries should not be prepared.

Prepare a discussion posting to:

• Convince your roommate that adjusting entries should be made.
• Discuss reasons for adjusting entries.
• Provide examples for adjusting entries relevant to a dry cleaning business.
• Explain the effects on the income statement and balance sheet if adjustments are not made.

PLEASE RESPOND within 300 words thank you so much! I will definetly leave a like