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Which of the following statements is correct regarding the adjusting entries for a merchandiser versus a servic A service company will have an adjusting entry

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Which of the following statements is correct regarding the adjusting entries for a merchandiser versus a servic A service company will have an adjusting entry for accrued expenses. A merchandising company will have an adjusting entry for accrued expenses. A service company will have an adjusting entry for unearned revenues A merchandising company will have an adjusting entry for unearned revenues. All of the statements are correct. 22

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