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V125BC [204]
3 years ago
9

The steps in the accounting cycle are randomly listed below (as covered in Chapters 1-3). (1) Prepare the financial statements.

(2) Prepare the adjusting journal entries. (Chapter 3) (3) Prepare the unadjusted trial balance. (4) Post the journal entries to the ledger. (5) Record the Journal Entries. (6) Prepare an adjusted trial balance. (Chapter 3) (7) Post the adjusting journal entries to the ledger. (Chapter 3) What is the proper order of these steps?
Business
1 answer:
Iteru [2.4K]3 years ago
6 0

Answer:

What is the proper order of these steps?

Explanation:

(5) Record the Journal Entries.

(4) Post the journal entries to the ledger.

(3) Prepare the unadjusted trial balance.

(2) Prepare the adjusting journal entries. (Chapter 3)

(7) Post the adjusting journal entries to the ledger

(6) Prepare an adjusted trial balance. (Chapter 3)

1) Prepare the financial statements.

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3 years ago
Jackson Co. began the year with $20,000 in inventory. During the year, the company purchased $80,000 worth of inventory. At the
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The total cost of goods sold  = $70,000

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