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Koher

Learning: The Adjusting Process

QUESTION $$

ANSWER

Accrual Basis Accounting

Mystery Book Shoppe receives an electric bill for $$200$ on June $29$th$.$ They will pay the bill on July $12$th$.$

Cash Basis Accounting

Mystery Book Shoppe recognizes this expense when it was incurred in the month of June, even though they will not be paying the bill until July. This is an example of which

Cost Basis Accounting basis of accounting?

IDON'T KNOWYET