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Four Types of Adjusting Journal Entries
by Bryan Keythman, Demand Media
Accrual accounting requires a business to record revenues and expenses in the period in which they are earned or incurred, regardless of when payment occurs. When payment occurs on a date that is different from the date on which a company actually earns or incurs a revenue or expense, the company creates an adjusting journal entry to record the revenue or expense in the appropriate period. There are four types of adjusting journal entries used in a small business. Sponsored Link

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