1. 1.The accounting cycle represents the primary front-to-end process in understanding the accounting process. Pick any of the ten procedures and describe how it works as well as how it interacts with the other processes. What aspects of your chosen procedure do you find confusing or complicated?
2. 2. Journal entries are sometimes used only as a last resort to close accounting periods. What is the reason you believe journal entries may not be the preferred method? What risks do you see in using journal entries?

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1 Procedure from the Accounting Cycle Posting to the General Ledger Posting to the general ledger is a critical procedure in the accounting cycle It i... View the full answer