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What are closing entries and why are they needed? What are temporary accounts and why do they need to be closed? What are the steps
What are closing entries and why are they needed? What are temporary accounts and why do they need to be closed? What are the steps to closing entries?
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Step: 1
Closing entries are journal entries made at the end of an accounting period to transfer the balances ...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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