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closing entry of an asset means the adjustment entry we do on the last day of accounting year.

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closing entry of an asset means the adjustment entry we do on the last day of accounting year.

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when is direct entry form for 2009 closing

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The entry closing the Expense and Revenue Summary is a?

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revenues and expenses

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A closing entry is when data in the temporary accounts, is transferred to the permanent balance sheet, or to the income statement accounts.

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