General Instructions: For this discussion board, you will have an excellent opportunity of understanding adjustment concepts. This discussion will enable you to learn more about why adjustments are needed and the types of adjusting entries made.

Detailed Instructions: Initial Post due by Wednesday at 23:59 pm EST Match the following to 2 applicable reasons that require an adjustment to be made. 1. Chrome Airlines provided flights this month for customers who paid cash last month for tickets.

2. Jones Inc. completed work on an advertising campaign that will be collected next month.

3. Williams received a telephone bill for services this month, which must be paid next month.

4. The James Paul Foundation used up some of the benefits of its 35,000 square-foot building.

Select 2 from the following for each of the above:

a. Revenue has been generated.

b. Expense has been incurred.

c. Liability has been incurred.

d. Liability has been fulfilled.

e. Asset has been acquired.

F. Asset has been used up.