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ADJUSTING ENTRIES EXPLAINED, ACC 100 Accounting I Week 3 Homework Chapter 3, homework help

📅 December 24, 2023 ✍️ Writers Research ⏱ 1 min read

Question description

Please see attached and solve problems.https://www.kaltura.com/index.php/extwidget/preview/partner_id/956951/uiconf_id/24290031/entry_id/1_exopvsdi/embed/iframe?&flashvars%5BstreamerType%5D=autoADJUSTING ENTRIES EXPLAINEDADJUSTING ENTRIES ARE OF FOUR TYPESPrepaid Expense  Prepaid Expense (or Inventory)   dr   Cash  crWhen the Prepaid Expenditure is made.  AND/ORExpense  drPrepaid Expense (or Inventroy)  crWhen the actual expense consumed is determined (usually at the end of a period.)UNEARNED REVENUECash drUnearned revenue  crWhen a cash payment for unearned revenue is received.  and/orUnearned revenue  drRevenue  crWhen the revenue is considered to have been earnedACCRUED REVENUEAccounts receivable  drRevenue  crWhen a sale has occurred but cash has not been received from the customerACCRUED EXPENSEXXX  Expense  drxxx Payable  crWhen an expense has been incurred but not paid for.

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