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In this tutorial, the speaker demonstrates how to enter a transaction for March as a journal entry. They specify that the transaction relates to Anderson Guitars and is dated March 5, 2023. Although the entry occurs after the cutoff date, the speaker emphasizes that the actual work was completed before this date. The example highlights situations common in job cost systems, where work is recorded after the cutoff due to the necessity of gathering time information from staff after the work has been performed. This process illustrates the importance of accurately reflecting the timing of transactions in accounting records.