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1 5: The Need for Adjusting Entries Business LibreTexts

On the other hand, the $2,500 of wages payable (credit) is the liability that the company owes to its employees for the five days of works. The accrual accounting method is the process of recording a business’ transactions when an event occurs, rather than when a cash payment is received and/or issued. Accrual entries are most commonly … Read more

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