Discuss the accounting cycle including transaction analysis, the accounting equation, journalizing transactions, and posting transactions...
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Accounting
Discuss the accounting cycle including transaction analysis, the accounting equation, journalizing transactions, and posting transactions to the general ledger. Discuss the importance of the unadjusted trial balance, the need for adjusting journal entries and explain deferrals and accruals. What is the purpose of the adjusted trial balance? How is it used to help prepare the financial statements? Compare and contrast permanent and temporary accounts and the process of closing the temporary accounts.
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