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Part I Please explain what accruals are and why they are necessary for accounting. Please give an example of 2 accrual entries and their purpose.
Part I
Please explain what accruals are and why they are necessary for accounting.
Please give an example of 2 accrual entries and their purpose.
Part II
Please explain what deferrals are and why they are necessary for accounting.
Please give an example of 2 deferrals.
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