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Chapter 4 Discussion Eric, accountant for KK Railroad forgot to prepare closing entries for the month of September. Kathy, the company president, said that rather

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Chapter 4 Discussion Eric, accountant for KK Railroad forgot to prepare closing entries for the month of September. Kathy, the company president, said that "rather than take the time now to prepare the closing entries, wait until the end of October and close for both months." Comment on the Kathy's comments and what action you believe should be taken

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