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Here are some examples of deferrals: Insurance premiums. Subscription based services (newspapers, magazines, television programming, etc.) Prepaid rent. Deposits on products. Service contracts (example: cleaners) Tickets for sporting events. What is an example of an accrual? Accrued Expenses The accrual principle of accounting allows an accountant to record expenses incurredRead More →

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When you defer a payment, you’re agreeing to put off that payment until a later date. For example, if you get a one-month deferment and you were originally scheduled to pay off your loan in November 2021, you’d now be paying it off in December 2021 (assuming you don’t haveRead More →