Business Plan Updated
Business question, please answer!!!?
Adjusting entries update accounts at the end of an accounting period. Items that belong to the period and were not previously recorded are recorded using an adjusting entry. Suppose a customer owes money to your business, but you are informed that the customer plans to file bankruptcy . You believe the customer will never pay the amount owed. Do you think an entry should be made for this event? Why or why not?
Yes u do make an entry for this as then the Accounts do not give a true and fair reflection of the companies performance
How To Create And Stay Connected To Your Business Plan
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