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What are the four closing journal entries?
The four closing journal entries are: 1. Close revenue accounts to Income summary 2. Close the expenses accounts to Income summary 3. Close income summary to retained earnings 4. Close dividends and retained earnings. [ ]
Expert answered|andrewpallarca|Points 19261|
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Asked 2/8/2013 1:16:11 PM
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What are the four closing journal entries, why are these necessary? ?
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How would you calculate cost of goods sold?
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