List the two types of adjusting journal entries and give an example of an adjustment affecting revenues
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List the two types of adjusting journal entries and give an example of an adjustment affecting revenues and expenses for each type.
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The two different types of adjusting journal entries are 1 Deferral adjustments aRevenues X previou...View the full answer
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-1259269868
5th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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