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The first five steps in the accounting cycle include analyzing transactions, journalizing, posting, preparing an unadjusted trial balance, and recording adjusting entries()

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The accounts listed on the income statement can be named as () because the balances of such accounts will not be carried forward from year to year.

Journalizing is the process to record transactions in a __________.

The steps in the closing process are () close Withdrawals to Owner’s Capital.

Posting accounting transactions avoids the necessity of journalizing transactions.()

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