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1. Debit = ______________.
2. Credit = _____________.
3. The general journal is the ______________________(book of original entry or the general ledger.)
4. The accrual basis of accounting records _______________when __________________ and ________________ when __________________.
5. The ________________ _________________ tries to match ________________with ____________________.
Section VI. Prepare the necessary closing entries:
Revenues = $10,000
Expenses= $ 5,000
Withdrawals= $2,000
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