Unit 2 IP - Unit 2 Individual Project 1 Unit 2 Individual...

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Unit 2 Individual Project 1 Unit 2 Individual Project Warren Synecky ACCT205-1004B-14 Principles of Accounting I October 15th, 2010
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Unit 2 Individual Project 2 Abstract This paper will be used to review adjusting entries in your general journal. It will give some brief definitions, useful examples and some issues you may have when adjusting entries.
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Unit 2 Individual Project 3 Adjusting entries are entries made in the general journal to record revenues that have been earned but not paid for and expenses that have been incurred but not paid for. Adjusting entries are necessary because a single transaction may affect revenues or expenses in more than one accounting period and also because all transactions have not necessarily been documented during the period. There are 4 types of adjusting entries: Deferred revenue, Accrued revenue, deferred expense, and accrued expense. Deferred revenue is when a company receives payment for a service or product without providing the service or product at the time they receive the
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Unit 2 IP - Unit 2 Individual Project 1 Unit 2 Individual...

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