Adjusting Entries : The entries which are passed at the end of the accounting period to maintain the accounts on an accrual basis are the adjusting entries. These entries are passed in order to adjust the amounts of incomes and expenses in the accounting period in which they are actually earned and incurred respectively. To Prepare: Adjusting entries at December 31, 2017.

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Chapter 3, Problem 3.16E

To determine

Adjusting Entries: The entries which are passed at the end of the accounting period to maintain the accounts on an accrual basis are the adjusting entries. These entries are passed in order to adjust the amounts of incomes and expenses in the accounting period in which they are actually earned and incurred respectively.

To Prepare: Adjusting entries at December 31, 2017.

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