Adjusting Journal Entries – Accounting In Focus
14:38
accountinginfocus.com
Adjusting Journal Entries – Accounting In Focus
What are adjusting journal entries? The matching principle states expenses must be matched with the revenue generated during the period. The purpose of adjusting entries is to ensure that all revenue and expenses from the period are recorded. Many adjusting entries deal with balances from the balance sheet, typically assets and liabilities ...
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