One of the types of adjusting entries that are made at the end of the accounting period in order to report (1) revenues that have been earned but have not yet been entered into the accounting records, and/or (2) expenses that have been incurred but have not yet been entered into the accounting records. To learn more, see Explanation of Adjusting Entries.
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For the past 52 years, Harold Averkamp (CPA, MBA) has
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