ACCOUNTING PRCINCIPLES (CCCS CUSTOM)
ACCOUNTING PRCINCIPLES (CCCS CUSTOM)
14th Edition
ISBN: 9781119845102
Author: Weygandt
Publisher: WILEY
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Chapter 3, Problem 20E
To determine

Accrual basis of accounting:

The accrual basis of accounting is the basis of the accounting in which the transactions are recorded in the period in which the event happened. This is for the purpose of recording the revenues and expenses of the particular period and matching the same against each other to know the net result of the period under consideration.

To prepare:

The adjusting entries for the year 2020.

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