This presentation we will look into recording and adjusting entry related to a short term loan. Let’s get into it with Intuit QuickBooks Online. Here we are in our get great guitars file. Let’s first take a look at our reports our balance sheet report for this transaction that we’re going to be recording or this adjusting entry, we’re going to be opening up our favorite report that being the balance sheet report, we’re going to change the dates up top the dates from let’s make it a 1012020 229 to zero. Now, when we think about the adjusting entries, we’re always going to be thinking of them as kind of like the cutoff dates, we’re trying to make things correct as of the cutoff date, which in this case, it’s going to be the end of the second month.

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