Indicate with an X in the appropriate column the type of entry to be made to close the following accounts:
Correct Answer:
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Q121: The preparation of adjusting entries
A)is easy because
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Q147: Briefly distinguish between adjusting and closing entries.
Q148: Why will the Income Summary account never
Q149: Doug Riley is the only accountant employed
Q158: What two broad purposes do closing entries
Q159: Preparing the work sheet and closing entries
A)saves
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