For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial
Question:
(a) The adjustment of $8,175 for accrued fees earned was journalized as a debit to Accounts Receivable for $8,175 and a credit to Fees Earned for $8,157.
(b) The adjustment of depreciation of $2,700 was omitted from the end-of-period adjusting entries.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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a The trail balance would be unequal by 18 a...View the full answer
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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