FandomQueen2299 FandomQueen2299
  • 07-09-2020
  • Business
contestada

What is the purpose of a closing entry?

Respuesta :

andromache andromache
  • 09-09-2020

Answer and Explanation:

The motive of closing entries is to reset the balances of temporary accounts to comes zero in the general ledger account as the temporary accounts are applied to records the activity related to the business transactions for a particular period of time

Therefore the same should be the purpose of it

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