Marshmallow19 Marshmallow19

11-11-2020
Business

contestada

What are closing entries and why are they important in accounting?

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24ricei 24ricei

11-11-2020

Answer:7

Explanation:14

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Emankhan Emankhan

11-11-2020

Answer:

The purpose of the closing entry is to reset the temporary account balances to zero on the general ledger, the record-keeping system for a company's financial data. Temporary accounts are used to record accounting activity during a specific period.

Explanation:

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