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Instructions

In real life, adjusting journal entries (AJE’s) are often needed to correct bookkeeping errors or omissions that have occurred during the period. But for the purpose of this course, it is assumed that the bookkeeper is flawless and has made no errors or omissions. If not to correct errors, why is one or more adjusting journal entries almost always needed under the accrual basis of accounting? But why if there are no bookkeeping errors relating to cash do they never, never, never involve the Cash account?

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