Which of the following is done first at the end of each accounting period?
A)Prepare adjusting journal entries.
B)Prepare a post closing trial balance.
C)Prepare closing journal entries.
D)Prepare the statement of retained earnings.

Question

Quizplus · Accepted Answer

Adjusting journal entries are made first at the end of each accounting period to update account balances before financial statements are prepared.

Which of the Following Is Done First at the End