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Explain the following accounting steps in detail- Step 4. Adjustment data are assembled and analyzed. Step 6. Adjusting entries are journalized and posted to the

Explain the following accounting steps in detail-

Step 4. Adjustment data are assembled and analyzed.

Step 6. Adjusting entries are journalized and posted to the ledger. (Similar to Step 1 and 2 but combined in 1 step here.)

Step 7. An Adjusted Trial Balance is prepared.

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