1.
Concept Introduction: Double-entry accounting requires the
The T-account post beginning balance and purchase of office supplies during the period.
2.
Concept Introduction: Adjusting entries are made at the end of the accounting period to record revenues in the period they are earned and expenses in the period they occur. Assets and liabilities are also updated by
The adjustment entry to record
3.
Concept Introduction: Double-entry accounting requires the
The
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Horngren's Financial & Managerial Accounting
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