Adjustments a. What is an adjusting entry b. What is the source of information for

Chapter 18, Problem 6

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QUESTION:

Adjustments

a. What is an adjusting entry?

b. What is the source of information for journalizing adjusting entries?

Questions & Answers

QUESTION:

Adjustments

a. What is an adjusting entry?

b. What is the source of information for journalizing adjusting entries?

ANSWER:

Step 1 of 3

A journal entry is an accounting step to record business transactions through a double-entry bookkeeping system. Each journal entry involves an equal debit and credit to both accounts. The journal entries are entered into a general journal.

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