Asked by
Angela Turner
on Nov 12, 2024
Verified
Adjusting journal entries are recorded in a special journal.
Adjusting Journal Entries
Entries made in accounting records at the end of an accounting period to allocate income and expenditures to the correct period.
Special Journal
A specialized accounting journal designated for the recording of specific types of transactions, such as sales or purchases, to increase efficiency and organization.
- Identify the significance and role of the general journal.
- Understand the method of recording transactions in both general and specialized journals.
Verified Answer
TP
Learning Objectives
- Identify the significance and role of the general journal.
- Understand the method of recording transactions in both general and specialized journals.
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