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Questions: 1. What is the process of closing the books for a quarter-end or year-end? 2. Name one adjusting entry or accrual entry that is

Questions:

1. What is the process of closing the books for a quarter-end or year-end?

2. Name one adjusting entry or accrual entry that is prepared during a closing process.

3. How might the preparation of the entry you identify to be impacted by the need to work remotely during the COVID-19 outbreak?

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