24. To correct this error in 20X0, you need to record just the adjusting entry that was not made because... a. an expense account is involved b. no error was made recording the note payable on July 1, 20X0 c. an accrual is involved rather than a deferral d. the books have not been closed 25. If a check written by the company is recorded for the wrong amount, the error is likely to be found because... a. the trial balance will be out of balance by an amount divisible by 9 b. the trial balance will be out of balance by an amount divisible by 2 c. the bank reconciliation will be out of balance when the check clears d. the balance sheet will be out of balance 26. On October 1, 20X1, MarCo signs a one-year, 8% note payable for $10,000 with principle and interest due on October 1, 20X2. It is MarCo's only note outstanding. On October 1, 20X2 when the note is paid, MarCo deb- its Notes Payable and credits Cash for $10,800, the sum of principle and interest. This error is likely to be found because . . . a. the bank reconciliation will be out of balance when the check clears b. the trial balance will be out of balance by $800 c. the trial balance will show a balance in Notes Payable that is not normal d. interest expense will be understated 27. While writing a check for $2,000 on April 26, 20X2 for a computer purchased on December 26, 20X1, you discover that when the purchase was made in December, the $2,000 had been credited to Notes Payable instead of Ac- counts Payable. If the books are closed, what single entry could you make? a. Notes Payable Accounts Payable 2,000 2,000 b. Notes Payable 2,000 Cash 2,000 c. Accounts Payable 2,000 Cash 2,000 d. Accounts Payable 2,000 Notes Payable 2,000