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Becky Badger is the CFO of Abbott Lamp Corporation, a manufacturer of lamps. Becky makes the following entry for factory rent: Rent Expense$20,000 Cash$20,000 As
- Becky Badger is the CFO of Abbott Lamp Corporation, a manufacturer of lamps. Becky makes the following entry for factory rent:
Rent Expense$20,000
Cash$20,000
As a UWM MBA, please describe why Becky's journal entry is wrong and incorporate the matching principle in your answer (3 pts).
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
18th edition
1292162406, 978-1292162409
