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Journalize and Post Closing Entries and Complete the Closing Process

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Four Steps in Preparing Closing Entries. Close Income Summary to the appropriate capital. How To Prepare Closing Entries And Prepare A Post Closing Trial Balance Accounting Principles Youtube This process is conducted at the end of a fiscal year in order to prepare the accounting records. . Journalize and post the closing entries and complete the closing process. Use J14 for the journal page. Journalize and post the July transactions Use page J1 for the journal and the three column form of account. Close your books faster. The goal is to make the posted. Use the three-column form of account. Journalizing and Posting Closing Entries. Close your books faster. Close all expense accounts to Income Summary. This is accomplished by journalizing and posting closing entries for all temporary accounts. Closing journal entries are used at the end of the accounting cycle to close the temporary accoun
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