For matters dealing with specific payments or bank accounts, the student needs to contact the VA directly through their Education Benefits hotline, 1-888-442-4551. The VA will not discuss a studentâs personal payment issues with the WSU Veterans Coordinator, as this constitutes a violation of the Federal Privacy Act.
Closing entries are journal entries made at the end of an accounting period which transfer the balances of temporary accounts to permanent accounts. Closing entries are based on the account balances in an adjusted trial balance. The permanent account to which balances are transferred depend upon the type of business.
In order to report the expense in the period in which it was incurred, an adjusting entry is made at the end of the month. For example, in the case of a small company accruing $80,000 in monthly salaries, the journal entry might look like the following: Date. Account Titles & Explanation.