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Need help with these few will upvote The following adjusting journal entry does not include an explanation. Select the best explanation for the entry. a.
Need help with these few will upvote
The following adjusting journal entry does not include an explanation. Select the best explanation for the entry. a. Record payment of fees to be earned. b. Record fees earned at the end of the month. c. Record fees that have not been earned at the end of the month. d. Record payment of fees earned. Merchandise is ordered on November 10 ; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on November 13; the merchandise is received by the buyer on November 18 ; the entry is made in the buyer's accounts on November 20. The credit period begins with what date? a. November 13 b. November 18 c. November 20 d. November 10 Which of the following is included in the cost of constructing a building? a. insurance costs during construction b. cost of removing the demolished building existing on the land when it was purchased c. cost of repairing vandalism damage during construction d. cost of paving the parking lot Which of the following balances is always due to an error? a. Retained Earnings - debit balance of $1,000 b. Accounts Payable - debit balance of $600 c. Office Equipment - credit balance of $500 d. Dividends - debit balance of $2,500 What is the goal of the closing process? a. to make sure all temporary accounts have a zero balance b. to verify that all adjustments have been made c. to end the accounting period with a profit d. to move all equity accounts to Retained Earnings Step by Step Solution
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