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Complete the following table. Determine whether the adjusting entry relates to an accrual or a deferral. If is ACC301 - Accounting Cycle Accruals and Deferrals
ACC301 - Accounting Cycle Accruals and Deferrals Complete the following table. Determine Whether the adjusting entry relates to an accrual or a deferral. If is relates to a deferral, did the en increase a balance sheet account? Should the ad -ustin en be reversed? ADJUSTING ENTRY SALARY EXPENSE SALARIES PAYABLE SUPPLIES EXPENSE SUPPLIES SUPPLIES SUPPLIES EXPENSE INTEREST EXPENSE IMEREST PAYABLE INTEREST RECEIVABLE INTEREST REVENUE RENT RECEIVED IN ADVANCE RENTAL REVENUE RENTAL REVENUE RENT RECEIVED IN ADVANCE RELATES TO ACCRUAL' DEFERRAL MARK AID IF A DEFERRAL DOES IT INCREASE A BALANCE SHEET ACCT YES'NO SHOULD YOU REVERSE YESINO
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