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ACC 300 Week 3 Learning Team Assignment Working With Financial Statements

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Part I:
Write a 1,500- to 1,750-word paper explaining the following:
Revenue recognition principle
Expense recognition principle
Describe the four situations that require adjusting journal entries and provide one example for each:
Prepaid expenses
Unearned revenues
Accrued expenses 
Accrued revenues
Format the paper consistent with APA guidelines.
Part II
Complete problem set P4-2A in Ch. 4 of Financial Accounting.

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