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The purpose of adjusting entries is in order that the overall ledger account balances mirror the cash flow acquired and costs incurred through the accounting time period.

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Now that you've got reviewed specifics of Moondollars, you might be to start step one in the accounting cycle, recording transactions. On this website page in the apply set, that you are asked to history transactions that occurred in the very first week of June into the business's journals and post the right entries to the ledger accounts. The following transactions occurred all through the very first week on June:

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