What are adjusting entries? Give examples of any two such entries.
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An adjusting journal entry occurs at the end of a reporting period to record any ... As an example, assume a construction company begins construction in one ... Accruals are revenues and expenses that have not been received or paid,
The five types of adjusting entries
Accrued revenues. When you generate revenue in one accounting period, but don't recognize it until a later period, you need to make an accrued revenue adjustment. ...
Accrued expenses. ...
Deferred revenues. ...
Prepaid expenses. ...
Depreciation expenses.
Explanation:
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