Match the following entry descriptions with the accounting entries to which they relate by placing the appropriate letter to the left. A letter may be used more than once. A. Adjusting entries.
B. Closing entries.
C. All the entries listed above.
D. None of the entries listed above.
$\underline{\quad\quad}$1. May be initially recorded in the general ledger.
$\underline{\quad\quad}$2. They must be determined before the financial statements for the period are prepared.
$\underline{\quad\quad}$3. Clears the temporary account balances at the end of the period.
$\underline{\quad\quad}$4. Clears the permanent account balances at the end of the period.
$\underline{\quad\quad}$5. They affect both temporary and nominal accounts.

Question

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The Answer of Match the following entry descriptions with the accounting entries to which they relate by placing the appropriate letter to the left. A letter may be used more than once. A. Adjusting entries.
B. Closing entries.
C. All the entries listed above.
D. None of the entries listed above.
$\underline{\quad\quad}$1. May be initially recorded in the general ledger.
$\underline{\quad\quad}$2. They must be determined before the financial statements for the period are prepared.
$\underline{\quad\quad}$3. Clears the temporary account balances at the end of the period.
$\underline{\quad\quad}$4. Clears the permanent account balances at the end of the period.
$\underline{\quad\quad}$5. They affect both temporary and nominal accounts.

Match the Following Entry Descriptions with the Accounting Entries to Which