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    Adjusting entries are needed 1. Whenever revenue is not r

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    Adjusting entries are needed:

    1. Whenever revenue is not received in cash
    2. Whenever expenses are not paid in cash
    3. Only to correct errors in the initial recording of business transactions
    4. Whenever transactions affect the revenue or expenses of more than one accounting periods.

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    https://brainmass.com/business/the-adjusting-process/adjusting-entries-cash-noncash-transactions-430168

    Solution Preview

    Adjusting entries are needed

    1. Whenever revenue is not received in cash
    2. Whenever expenses are not paid in cash
    3. Only ...

    Solution Summary

    The solution adjusts entries that are needed.

    $2.19