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Category: Accounting
Define the following: a. account Define the following: b. contra account Define the following: c. general ledger Define the following: d. journal Define the following: e. posting
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Category: Accounting
What are adjusting entries, and why are they necessary?
1
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Category: Accounting
What different purposes do the general journal and the general ledger serve?
1
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Category: Accounting
What is the purpose of a trial balance?
4
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Category: Accounting
Give examples of transactions that: a. Increase inventory and a liability b. Decrease inventory and a liability c. Increase inventory and decrease an asset d. Decrease inventory and increase an asset
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