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Jim Jones Company reported cash flows from operations of $67,000 for the year ended December 31.However, the accountant forgot to accrue $1,000 in utilities expenses
Jim Jones Company reported cash flows from operations of $67,000 for the year ended December 31.However, the accountant forgot to accrue $1,000 in utilities expenses relating to the month of December.(The utility bill for December was received and paid the following month.)If the utilities expense had been properly accrued, cash flows from operations for the yearshould have been reported as:
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