Match each type of adjusting entry with its definition.

Business

1 answer:

NeTakaya2 years ago

8 0

Answer and Explanation:

The matching is as follows:

1. Deferred revenue - the cash would be received in the present period and the same would be reported as a revenue for the future period

2. Accrued expense - It would be recorded as an expense for a present period but the cash would be paid in the future

3. Prepaid expense - The cash is paid or the obligation is to the pay the cash in the present period but the expense would be recorded in the future period

4. Accrued revenue - the revenue is recorded in the present period but the cash would be collected in a future period

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