Managerial Accounting
Managerial Accounting
7th Edition
ISBN: 9781260247886
Author: Wild
Publisher: MCG
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Chapter C, Problem 5E
To determine

Concept introduction:

Lean Accounting:

Lean accounting refers to the modern time accounting system which helps in maintaining accounting data in much comparative manner. In other words, we can say that lean accounting system focus on the maximization of recording efficiency through gathering useful & comparative accounting information. This system focuses on the elimination of waste in the processes and on meeting the needs of the customers.

Journal entries to record transactions.

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