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I need help with answering 2 participation posts for my principal accounting 1 class. Thank you What are adjusting entries? Why are these necessary? How

I need help with answering 2 participation posts for my principal accounting 1 class. Thank you

What are adjusting entries? Why are these necessary? How would you explain the purpose of the adjusted trial balance to someone who knew nothing about it?

What is the revenue recognition principle? What is the expense recognition principle? In your opinion, why are these important to financial reporting?

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