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Error #3 In 20X2 Motown consumed some of their prepaid supplies and inadvertently credited Cash. The entry was recorded incorrectly as follow: $ 15,000 Amount
Error #3 In 20X2 Motown consumed some of their prepaid supplies and inadvertently credited Cash. The entry was recorded incorrectly as follow: $ 15,000 Amount of prepaid supplies consumed in 20X2 Error discovered in 20X2 before the books are closed. IGNORE INCOME TAXES. Original entry was as follows in 20X2: $ 15,000 Supplies Expense Cash $ 15,000 Page 5 of 7 16.) The 20X2 required correcting journal entry has what impact on Cash? A. Increase B. Decrease C. No impact
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