Explain how accrual accounting differs from cash-basis, Accounting Basics

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Explain how accrual accounting differs from cash-basis

Explain how accrual accounting differs from cash-basis accounting;

adjust the account:-

An accountant made the following adjustments at December 31, the end of the accounting period:

a. Prepaid insurance, beginning, $400. Payments for insurance during the period, $1,200. Prepaid insurance, ending, $700.

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Accounting Basics: Explain how accrual accounting differs from cash-basis

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Accounting Basics: Explain how accrual accounting differs from cash-basis

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