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Scenario: You were recently hired by a $35 million manufacturing company ($35 million in sales) as the company staff accountant. The Controller (your boss)

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Scenario: You were recently hired by a $35 million manufacturing company ($35 million in sales) as the company staff accountant. The Controller (your boss) has asked you to explain (A) closing entries to the accounting clerk. The goal being the accounting clerk can independently complete the closing entries at year- end. (A) - Prepare step-by-step instructions for the accounting clerk to follow at year-end. The instructions should provide both the "how" and the "why" so the accounting clerk learns not only how to complete closing entries but also learns why the closing entries must be made.

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