Select two of these entry types to explore in some depth. In your reflection paper, address the following for each entry type: accrued expenses, accrued revenue 1. Describe the purpose of the adjusting entry and a scenario in which a company might need to make this type of entry. 2. Explain how the entry should be recorded. 3. Discuss the financial statement impact of omitting the adjusting entry. [MO 2.2, MO 2.3, MO 2.4]