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21 Feb 2020

The preparation of adjusting entries is:

 

 

  1. straightforward because the accounts that need adjustment will be out of balance.

  2. optional when financial statements are prepared.

  3. needed to ensure that the expense recognition principle is followed.

  4. only required for accounts that do not have a normal balance.

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Jean Keeling
Jean KeelingLv2
21 Feb 2020
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