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For Review: In chapter 4 you read about completing the accounting cycle. At the end of the period all temporary accounts are closed. There are
For Review: In chapter 4 you read about completing the accounting cycle. At the end of the period all temporary accounts are closed. There are 4 basic closing journal entries. Prepare the four basic entries (debits and credits) that would be made if a business were preparing closing entries assuming net income was made during the period. You need not use any numbers ($). Just the accounts that you would debit and credit
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