What is the purpose of closing entries? What is a consequence of forgetting to make closing entries?

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College Accounting A Career Approach

ISBN: 978-1337280563

13th edition

Authors: Cathy J. Scott

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Question Posted: Aug 04, 2017 09:37 AM

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What is the purpose of closing entries? Consider the consequence of forgetting to make closing entries.
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What is the purpose of closing entries? What is a consequence of forgetting to make closing entries?

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The purpose of closing entries is to close out the temporaryequity or n...View the full answer

College Accounting A Career Approach

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