The purpose of adjusting entries is to update the account ...

[sdfghj]

The purpose of adjusting entries is to update the account balances at the end of the period.
 
  Indicate whether the statement is true or false

Question 2

Although Allowance for Doubtful Accounts normally has a credit balance, it may have either a debit or a creditbalance before adjusting entries are recorded at the end of the accounting period.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[Kingjoffery]

Answer to Question 1

TRUE

Answer to Question 2

True

[sdfghj]

Thanks for the timely response, appreciate it

[komodo7]

Excellent