ADJUSTING ENTRIES Definition

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ADJUSTING ENTRIES are special accounting entries that must be made when you close the books at the end of an accounting period. Adjusting entries are necessary to update your accounts for items that are not recorded in your daily transactions.

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SYD see SUM-OF-THE-YEARS-DIGITS.

BACKLOG is value of unfilled orders placed with a manufacturing company. Whether a firms backlog is rising or falling is a clue to its future sales and earnings.

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