Adjusting Entries Types Example How to Record Explanation & Guide
kncmarine 08.09, 2021 BookkeepingComments Off on Adjusting Entries Types Example How to Record Explanation & GuideAdjusting entries are most commonly used in accordance with the matching principle to match revenue and expenses in the period in which they occur. For example, the business might pay its rent quarterly in advance, when paid the amount will have been debited to a prepaid rent account in the balance sheet. At the end of each of the next three months adjusting journal entries are made to record the ...