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10 cards from this deck
Initial trial balance before year-end adjustments
Enter pre-adj figures, process adjustments, calc final figures
Current asset (unused portion of advance payment)
Expenses incurred but not yet paid or recorded
Liability (owe service/product to customer)
10% per annum at cost price
Usually 5% of total debtors
Added (+) to original figures
Subtracted (-) from original figures
Every adjustment impacts both income statement & balance sheet
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