What is the purpose of closing journal entries?

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Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Question Posted: Dec 15, 2023 12:49 AM

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What is the purpose of closing journal entries?

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Closing journal entries serve the purpose of transferring the balances of temporary accounts to the ...View the full answer

Fundamentals of Financial Accounting

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