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(TCO 3) Closing temporary accounts is necessary at the end of the accounting period. (1)...

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Accounting

(TCO 3) Closing temporary accounts is necessary at the end of the accounting period. (1) Explain the closing process, include each set of entries required (15 points) and (2) provide an example of closing the Dividend account in the form of a journal entry. (10 points). (Points : 25)

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