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Describe the two main types of adjusting entries (deferrals and accruals), and give at least 1 example of EACH of the 2 types. (ie, You

Describe the two main types of adjusting entries (deferrals and accruals), and give at least 1 example of EACH of the 2 types. (ie, You should have 2 complete journal entries 1 deferral entry, and 1 accrual entry Be sure to have a debit account and a credit account with amounts in your entry)

. Explain what an Unadjusted Trial Balance is, and the relationship between the Unadjusted Trial Balance, adjusting journal entries, and the Adjusted Trial Balance.

Finally, what do we do with the Trial Balance, and what statements is it used to produce?

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Recommended Textbook for

Cambridge International AS & A Level Mathematics Probability & Statistics 1 Coursebook

Authors: Dean Chalmers, Julian Gilbey

1st Edition

1108407307, 978-1108407304

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