Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can someone please help me ? thanksThis is a multiple answer question. In July 2 0 2 5 , Earnest Company made a sale to
Can someone please help me thanksThis is a multiple answer question.
In July Earnest Company made a sale to a customer for $ on account. The bookkeeper made the following entry: DR Accounts receivable $; CR Interest Revenue
$ Before the books were closed in the Controller questioned whether sales during the year seems low. Upon investigation, the Accounting Manager reported that the $
sale to a customer in July had been incorrectly reported as interest revenue. When the correcting entry is made, which components will be included? Choose all that apply
A debit retained earnings $
B credit accounts receivable $
c debit cash $
D credit sales revenue $
E debit interest revenue $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started