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Alpha received cash from a customer to satisfy an account receivable but erroneously recorded the transaction as cash paid to a vendor to satisfy
Alpha received cash from a customer to satisfy an account receivable but erroneously recorded the transaction as cash paid to a vendor to satisfy an account payable from an earlier purchase of supplies. What effect does this have on assets, liabilities, and net income?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
6th edition
1259864235, 1259864230, 1260159547, 126015954X, 978-1259864230
