Question
It is the 1/31/2022 month end close. When reviewing the P&L you see an invoice for $500,000 was recorded on the P&L under G&A. The
It is the 1/31/2022 month end close. When reviewing the P&L you see an invoice for $500,000 was recorded on the P&L under G&A. The invoice related to 1/1/2022 - 9/30/2022. Record the entry needed.
Based on the answer above, what would be the amount and period you would amortize the invoice?
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Audit Guide Audit Sampling
Authors: AICPA
2nd Edition
195068833X, 978-1950688333
