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ACC 290 Week 3 DQ2 What are the four closing journal entries? Why are they necessary? What are reversing entries? Why are they used? What are the pros and cons of using reversing entries?

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ACC 290 Week 3 DQ2;What are the four closing journal entries? Why are they necessary? What are reversing entries? Why are they used? What are the pros and cons of using reversing entries? Why are reversing entries optional?;The four closing entries are revenue is closed to the income summary, expenses are closed to the income summary, the income summary is closed to retained earnings, and dividens are closed to retained

 

Paper#20676 | Written in 18-Jul-2015

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