The proper sequence used in recording a business transaction is
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The ten steps of the accounting cycle are presented below. Identify the correct order of the steps by placing the numbers 1 (first step) to 10 (last step) by each description. ________ Start with beginning account balances. ________ Prepare the post-closing trial balance. ________ Prepare the financial statements. ________ Compute the unadjusted balance in each account and prepare the unadjusted trial balance. ________ Post journal entries to the accounts. ________ Analyze and journalize transactions as they occur. ________ Prepare the adjusted trial balance. ________ Journalize and post adjusting entries. ________ Journalize and post the closing entries. ________ Enter the unadjusted trial balance on the worksheet and complete the worksheet (optional).