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Gagan Mishra

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English
2 years ago

31. What Are Adjustment Entries? Why Are They Passed?

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Abhishek Mishra

2 years ago

The purpose of adjusting entries is to convert cash transactions into the accrual accounting method. Accrual accounting is based on the revenue recognition principle that seeks to recognize revenue in the period in which it was earned, rather than the period in which cash is received.

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