ADJUSTING JOURNAL ENTRIES Flashcards

1
Q

4 TYPES OF ADJUSTING JOURNAL ENTRIES

A
  1. PREPAID EXPENSES
  2. DEFERRED REVENUES
  3. ACCRUED EXPENSES
  4. ACCRUED REVENUES
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2
Q

2 PREPAID EXPENSE EXAMPLES

A

BUYING URINE CUPS ON NET 30

OR

PAYING CASH FOR CUPS NOT FOR LATER USE

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