Adjusting and closing entries are made differently in the combination journal and in the general journal.
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Q4: Under the modified cash basis of accounting,adjustments
Q5: Financial statements are normally prepared at the
Q6: Seldom used accounts are entered in the
Q7: Each entry is posted individually from the
Q8: Businesses might set up special journal columns
Q10: More time is required if a journal
Q11: Many small professional service businesses use the
Q12: It will take additional work and time
Q13: If the owner has not made any
Q14: In using a combination journal,posting requires less
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