Business, 08.10.2019 01:00 ctyrector

Which of the following describes the purpose(s) of closing entries? adjust the balances of asset and liability accounts for unrecorded activity during the period. transfer the balances of temporary accounts (revenues, expenses, and dividends) to retained earnings. reduce the balances of the temporary accounts to zero to prepare them for measuring activity in the next period.

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Which of the following describes the purpose(s) of closing entries? adjust the balances of asset an...

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