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Question

Why are closing journal entries necessary? Which type of accounts are impacted by closing entries? What is the normal balance of an account? Why is the normal account balance important when preparing closing entries? This needs to be 200-300 words. Thank you,

Submitted: 34 days and 3 hours ago.
Category: Homework
Value: $9
Status: CLOSED

Accepted Answer

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Expert: Doug
Pos. Feedback: 100.0 %
Accepts: 
Answered: 10/21/2009

MBA

Perfect GMAT Writing Score; MBA + 1 Year PhD (with publication)

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