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Mirriam Mwaamba
on Nov 15, 2024

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Since some costs are not recorded, adjusting entries are necessary.

Adjusting Entries

Accounting records made during the closing of a financial period to properly distribute expenses and revenues to the time they were truly incurred.

Costs Recorded

Expenses documented in the financial records of a business, reflecting the economic use of resources.

  • Comprehend the nature and impact of adjusting and closing entries on financial statements.
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Hannah McDanielNov 19, 2024
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