Introduction to Adjusting Journal Entries and Prepaid Expenses Video Lessons

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Problem: Adjusting entries: A) Usually are recorded on the first day of the month B) Always decrease expenses and decrease revenues C) Will usually affect one income statement account balance and one balance sheet account balance D) Always affect the balance in cash E) Two or more of the above are correct

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Problem Details

Adjusting entries:

A) Usually are recorded on the first day of the month

B) Always decrease expenses and decrease revenues

C) Will usually affect one income statement account balance and one balance sheet account balance

D) Always affect the balance in cash

E) Two or more of the above are correct

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