Adjusting entries at the end of an accounting period are often needed because Select one: a management does not know what to report. b. there are never enough account to record all the transactions c. there are always errors made in recording transactions. d. many transactions may affect more than one accounting period. Which of the following is the correct way to record bad debt Select one: a. Dr Account receivable and Cr Allowance for doubtful debts. O b. Dr Account receivable and Cr Bad debt expense. c. Dr Bad debt expenses and Cr Account receivable. d. Dr Doubtful debts expense and Cr Account receivable. Investment income received in advance would be recorded as Select one: a. prepaid revenue. b. accrued revenue. c. accrued expense. d. prepaid expense