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Account Adjustments

Adjustment and closing process Basic entries:

Selected ledger counts used by Alvarez Truck Rental, Inc are listed long with identifying numbers. Following this list of account numbers and titles is a series of transactions. For each transaction, you are to indicate the proper accounts to be debited and credited.

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Adjustment and closing process Basic entries
Selected ledger counts used by Alvarez Truck Rental, Inc are listed long with identifying numbers. Following this list of account numbers and titles is a series of transactions. For each transaction, you are to indicate the proper accounts to be debited and credited.

1 Cash 33 Notes Payable 41 Truck Rental Revenue
2 Accounts Receivable 23 Dividends Payable 51 Advertising ...

Solution Summary

The accounts for adjustment process basic entries are given. The transactions for debited and credited are determined. This question involves the fundamentals of accounting

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