Mathematics, 27.07.2021 19:00 anthonyhaywood
What is the main purpose of closing entries for revenues and expenses into Profit and Loss Summary? a. To determine the profit for period. b. To transfer the journalised entries to relevant ledger account. c. To check the accuracy of journal entries. d. To provide information of business ability to repay for the debt.
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What is the main purpose of closing entries for revenues and expenses into Profit and Loss Summary?...
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