CORRECTING ENTRY Definition

Bookmark and Share

CORRECTING ENTRY, a type of ADJUSTING ENTRY, is required at the end of an accounting period if a mistake was made in the accounting records during the period. See REVERSING ENTRY.

Learn new Accounting Terms

SR see STOCK RESERVE.

BAD DEBT is an open account balance or loan receivable that has proven to be uncollectible and is written off.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.