Why are adjusting entries important? Your answer should be 100+ words and is due no later than Wednesday, 11:59pm. Your reply to at least two of your classmates is due no later than Sunday, 11:59pm. Guiding Hints/Questions: - Can financial statements be prepared without adjusting entries? - What impact will the omission of adjusting entries have on the financial statements? - Do companies use the unadjusted trial balance or the adjusted trial balance to prepare financial statements