Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 47 - No. 3)
Which of the following is an example of an adjusting entry?
Recording a cash sale
Depreciating an asset
Purchasing inventory on credit
Paying employee salaries
Explanation
Depreciating an asset is an adjusting entry made at the end of the accounting period to allocate the cost of the asset over its useful life.
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