Without adjusting entries to the journal, there would remain unresolved transactions that are yet to close. Income statement accounts that may need to be adjusted include interest expense, insurance expense,
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However, it is crucial to understand why the cash flow is negative, because if it is due to management continually selling assets, it is likely a warning sign. The balance
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Trade payables are usually accrued during ordinary business and include business supplies and other goods. For example, a beauty supplies chain owes money to a beauty supplies vendor. This would
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