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I need help answering these questions what is the purpose

Problem

I need help answering these questions:

What is the purpose of adjusting entries? Please provide an example.

What is journalizing? Please provide an example.

Financial statements are a product of the accounting cycle. Think about two different companies: a manufacturing company, and a retail company. Why would different companies have different accounting cycles? Would you expect the steps of the accounting cycle to be the same for each company? Why, or why not?

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