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Explain the purpose of adjusting entries

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Explain the purpose of adjusting entries. How is net income affected if adjusting entries are not made? Describe the four closing entries and explain their purpose.

The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Accounting Basics: Explain the purpose of adjusting entries

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