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Part I What are adjusting entries and why are they needed? Please give an example of 2 adjusting entries and their purpose. Part II What

Part I

What are adjusting entries and why are they needed?

Please give an example of 2 adjusting entries and their purpose.

Part II

What are closing entries? Why are they needed?

Please give an example of 2 closing entries

When you comment on each your classmates posts, please give them an additional example of either.

Remember to cite your sources.

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