QUESTION 10 Adjusting entries are made at the end of the period because of the need to a. adjust the balance in the Cash account for the effects of all daily transactions with customers and creditors. b. adjust Retained Earnings for net income and dividends. c. prepare revenue and expense accounts for recording transactions in the next accounting period by bringing the balances to zero. d. assure that all revenues and expenses are recognized in the period in which they are earned or incurred. QUESTION 11 The information in the general ledger shows the following journal entry: Cash $850 Notes Payable $850 This journal entry indicates that the business must have a. issued an $850 dividend to investors. b.borrowed $850. c. repaid a $850 debt. d. loaned $850 to another company