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d. interest expense will be understated While writing a check for $2,000 on April 26, 20X2 for a computer purchased on December 26, 20X1, you
d. interest expense will be understated 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, whatf single entry could you make? 27. a. Notes Payable b. Notes Payable c. Accounts Payable d. Accounts Payable Accounts Payable Cash Cash Notes Payable 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 795
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