Istituto Comprensivo Roseto 1

These entries are posted into the general ledger in the same way as any other accounting journal entry. The purpose of adjusting entries is to show when money changed hands and to convert real-time entries to entries that reflect your accrual accounting. This category of adjusting entries is also known as unearned income, deferred revenue,    »

Since a portion of the service wasprovided, a change to unearned revenue should occur. The companyneeds to correct this balance in the Unearned Revenue account. Adjusting entries, or adjusting journal entries (AJE), are made to update the accounts and bring them to their correct balances. The preparation of adjusting entries is an application of the    »