1. For the following situations, indicate the type of account to be debited and credited in a year-end adjusting entry. Use the following legend: A = Asset; L = Liability; R = Revenue; E = Expense. 2....

1. For the following situations, indicate the type of account to be debited and credited in a year-end adjusting entry. Use the following legend: A = Asset; L = Liability; R = Revenue; E = Expense.

2. Recall the steps in the accounting cycle shown in Exhibit 4-6. Assume that a company does not prepare a work sheet. Which of the two remaining steps in the accounting cycle are performed in a different order than they would be if a work sheet were prepared? Explain your answer.