Question: Adjusting Process - Firstly explain in simple terms what accrued expenses are and let us know why these adjustments are needed. post an example of

Adjusting Process

- Firstly explain in simple terms what accrued expenses are and let us know why these adjustments are needed. post an example of adjusting entry for an accrued expense.

- Secondly, explain in basic terms what accrued revenues are and why we need adjustments. Also post an example for adjusting entry for accrued revenues.

- Lastly explain simply what is unearned revenue account nd why adjustments are probably needed for revenues unearned. post an unearned revenue adjusting example entry.

**Sorry for the grammar but there's a reason, THNX a bunch!**

P.S: Lastly, please do not add answers that are already answering similar questions.

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