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In order:Identify a transaction Record entries in the General Journal Post entries to the General Journal Prepare a post Closing Trial Journal Determine which accounts
In order:Identify a transaction Record entries in the General Journal Post entries to the General Journal Prepare a post Closing Trial Journal Determine which accounts are needed for entry Run Trial Balance Prepare and Adjusted Trial Balance Prepare the Closing Entries Journal adjusting entries Post adjusting entries to the General LedgerPrepared the Statement of Owner Equity Prepare the Income Statement Post the Costing Entries Prepare the Balance Sheet
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