Why do businesses perform closing entries? Multiple Choice To help help a business perpare its 1) unadjusted triai balance and 2) financial statements To help get accounts ready for the next fiscal period by 1) closing all temporary accounts and 2) updating the capital acco To record revenues in the correct time period by adjusting accounts for 1) accrued revenues and 2) uneamed revenues To record expenses in the right time period by adjusting accounts for 1) accrued expenses and 2) prepaid expenses