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VladimirAG [237]
3 years ago
5

Where do temporary account balances go at the end of an accounting period?

Business
1 answer:
Andreyy893 years ago
8 0

Answer:

Temporary – revenues, expenses, dividends (or withdrawals) account. These account balances do not roll over into the next period after closing. The closing process reduces revenue, expense, and dividends account balances (temporary accounts) to zero so they are ready to receive data for the next accounting period.

Explanation:

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