Question: 1 . I would like you each to consider cash vs . accrual accounting and identify some of the advantages and disadvantages of each. Please

1. I would like you each to consider cash vs. accrual accounting and identify some of the advantages and disadvantages of each. Please summarize your thoughts.
2. What are the advantages of using a general journal?
3. Explain the significance of the post-closing trial balance in Step 5 of the accounting cycle.

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