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If you have difficulty answering the following questions, learn more about this topic by reading our Adjusting Entries (Explanation).
|1. Adjusting entries are associated with this accounting principle.||MATCHING GACNIMTH||Unscramble|
|2. These are a common type of adjusting entries.||ACCRUALS SCALUACR||Unscramble|
|3. Another name for adjusting entries that involve prepayments.||DEFERRALS SERFRLADE||Unscramble|
|4. The type of account involved with the deferral of revenues.||LIABILITY YILILBTIA||Unscramble|
|5. This type of account is part of the entry to accrue revenues.||ASSET TESAS||Unscramble|
|6. An accrual entry involving a liability will also include this type of account.||EXPENSE PNXEEES||Unscramble|
|7. A common adjusting entry pertaining to plant assets is the recording of ______________.||DEPRECIATION EDCTORIIPEAN||Unscramble|
|8. The contra account to accounts receivable is the ____________ for doubtful accounts.||ALLOWANCE CAWLNALOE||Unscramble|
|9. Adjusting entries are usually dated as of the date of the _________ sheet.||BALANCE ALCNBAE||Unscramble|
|10. _________-type adjusting entries are often reversed on the first day of the next accounting period.||ACCRUAL CUCLARA||Unscramble|
|11. The expired amount of prepaid insurance premiums should be reported in the account Insurance __________.||EXPENSE NEESPEX||Unscramble|
|12. An accrual that leads to an increase in assets will likely involve ___________.||REVENUES SUVENEER||Unscramble|
|13. Each adjusting entry affects at least one _________ statement account.||INCOME OMINEC||Unscramble|
|14. The account credited in the adjusting entry for depreciation is ______________ Depreciation.||ACCUMULATED DAMETUCAUCL||Unscramble|
|15. One purpose of adjusting entries is to report revenues in the accounting period in which they are __________.||EARNED DEERNA||Unscramble|
|16. Accruing revenues will include a debit to a _____________ account.||RECEIVABLE CLEAVEIBER||Unscramble|
|17. Accruing expenses will include a credit to a ___________ account.||LIABILITY TAILBYIIL||Unscramble|
|18. To avoid the double counting of accrued expenses, ____________ entries are made on the first day of the next accounting period.||REVERSING SNEGRIVER||Unscramble|
|19. An expense incurred but not yet recorded or paid will require an ___________-type adjusting entry.||ACCRUAL URCACLA||Unscramble|
|20. ____________ revenues should be reported as a liability.||UNEARNED ANUNDREE||Unscramble|
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