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ABC Company paid the monthly utility invoice on January 10, 2021 by debiting Utilities Expense for $550. The accountant preparing the journal entry overlooked the
ABC Company paid the monthly utility invoice on January 10, 2021 by debiting Utilities Expense for $550. The accountant preparing the journal entry overlooked the fact that Utilities Expense of $400 had been accrued at year end on December 31, 2020.
Prepare the correcting entry in good form. Mark will be deducted for non-Canadian convention.
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