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194 A CHAPTER 5 TH ACCOUNTING CYCLE COMPLETED 2. Stan...

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Accounting

194 A CHAPTER 5 TH ACCOUNTING CYCLE COMPLETED 2. Stan bought three new Subway aprons and hats for Wanda Smith for $20 each but forgot to post it to the Uniforms account. How much will the closing balance be off? In what way will it be off? 3. Put yourself in Stan's shoes: What is the value of doing a monthly closing, no matter how much-or little-business you do?

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