Why are closing entries prepared and what is an example of a temporary account that would be closed for a physician?
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Why are closing entries prepared and what is an example of a temporary account that would be closed for a physician?
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- Please explain what closing entries are and why they are necessary. Please give an example of a closing entry and include a description.What accounts go on the closing journal? Can someone provide an example for a visual?can you please explain what adjusting journal entries mean in these questions and what does how they get dr and cr answers and what they mean?
- Fill in the blank. The ____________ principle of accounting requires the revenues generated by providing care for a patient to be recorded in the same accounting period as the expenses incurred to provide that care.What account type are included in a post-closing trial balanceGive an example of two accounts that do not require a closing entry and why.