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I'm working on a accounting discussion question and need an explanation and answer to help me learn.
- Explain the purpose of Adjusting Entries and the Principle it follows.
Explanation & Answer:
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1
Adjusting Entries in Accounting
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2
Adjusting Entries
Adjusting entries refers to recorded entries to the journal at the end of the financial period,
i.e., monthly, quarterly or yearly, to align the books of accounts with revenue recognition and
matching principles (Weygandt et al., 2014). The adjusting entries are purposely meant to help the
accountants to match expenses and revenues to ...
oraghgbe22
(15853)
New York University
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