Which term describes an accounting journal entry made at the conclusion of an accounting period to align revenues and expenses under accrual accounting?

Explanation

• Adjusting Entries are written at period end to record unrecorded revenues and expenses (accruals and deferrals) in compliance with matching principles.
• Types of adjusting entries include accrued expenses, accrued revenues, deferred expenses (prepaids), and deferred revenues.
• Adjusting entries never involve the Cash account directly.