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On June 1, 20X0, your company sublets warehouse space to James, Inc. for $500 a month. Jamess last rent payment was for October, 20X0. In
- On June 1, 20X0, your company sublets warehouse space to James, Inc. for $500 a month. Jamess last rent payment was for October, 20X0. In January of 20X1, before the books are closed, you discover that your company neither received nor recorded rent for November and December.
- What is the correcting journal entry?
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Managerial Accounting
Authors: Ray H Garrison, Alan Webb, Theresa Libby
11th Canadian Edition
1259275817, 978-1259275814
