Managerial Accounting + Connect Access Card
Managerial Accounting + Connect Access Card
7th Edition
ISBN: 9781260581263
Author: John Wild
Publisher: McGraw-Hill College
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Chapter C, Problem 4E
To determine

Concept introduction:

Lean Accounting:

Lean accounting refers to the modern time accounting system which helps in maintaining accounting data in much comparative manner. In other words, we can say that lean accounting system focus on the maximization of recording efficiency through gathering useful & comparative accounting information. This system focuses on the elimination of waste in the process and on meeting the needs of the customers.

Journal entries to record transactions.

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