What is the adjustment entry of closing book?
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Adjusting entries record items that aren't noted in daily transactions. These items include accumulation (known as “accrual” in accounting) of real estate taxes or accrual of depreciation and need to be recorded in order to close the books. Adjusting items are made in the general journal.
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djusting entries record items that aren't noted in daily transactions. These items include accumulation (known as “accrual” in accounting) of real estate taxes or accrual of depreciation and need to be recorded in order to close the books. Adjusting items are made in the general journal.
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