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accounting final

Question # 00012825
Subject: Mathematics
Topic: General Mathematics
Due on: 04/19/2014
Posted On: 04/19/2014 07:21 PM

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accouting final

Question 1.1.(TCO 3) At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required (15 points) and (2) provide an example of the closing of an expense account, Rent Expense in the form of a journal entry. (10 points) (Points : 25)

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