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Which scientist developed the idea of continental drift?
Closing Entries
At the end of an accounting cycle, transactions are recorded to shift balances from provisional accounts to lasting accounts.
Post-closing Trial Balance
A summary of all account balances after closing entries are made, used to check the balance of debits and credits.
Adjusted Trial Balance
A list of all accounts and their balances after adjusting entries are made, used in the preparation of financial statements.
Closing Entry
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, thereby preparing the books for the next period.
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