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Describe the Adjusting Entries, Including the Accounts Used, for 1)

question 102

Essay

Describe the adjusting entries, including the accounts used, for 1) accrued expenses and 2) accrued revenues.


Definitions:

Ampacity

The maximum amount of electric current a conductor or device can carry before sustaining immediate or progressive deterioration.

Circular Mils

A unit of area used specifically in the calculation of wire cross-sectional areas, defined as the area of a circle with a diameter of one mil (one-thousandth of an inch).

Diameter

A straight line passing from side to side through the center of a body or figure, especially a circle or sphere.

MEGGER

A brand name that has become a generic term for insulation resistance testers, which measure the resistance of electrical insulation.

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