• Usually the adjusting entry will only have one debit and one credit.
• The adjusting entry will ALWAYS have one balance sheet account (asset, liability, or equity) and one income statement account (revenue or expense) in the journal entry.
Usually the adjusting entry will only have one debit and one credit.
The adjusting entry will ALWAYS have one balance sheet account (asset, liability, or equity) and one income statement account (revenue or expense) in the journal entry.
Answers & Comments
Answer:
THREE ADJUSTING ENTRY RULES
• Adjusting entries will never include cash. ...
• Usually the adjusting entry will only have one debit and one credit.
• The adjusting entry will ALWAYS have one balance sheet account (asset, liability, or equity) and one income statement account (revenue or expense) in the journal entry.
Explanation:
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Answer:
Adjusting entries will never include cash. ...
Usually the adjusting entry will only have one debit and one credit.
The adjusting entry will ALWAYS have one balance sheet account (asset, liability, or equity) and one income statement account (revenue or expense) in the journal entry.
Explanation:
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