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Paul Kloss, accountant for Lowe & Co., traveled to New York on company business.His total expenses came to $350.Paul felt that because his trip extended
Paul Kloss, accountant for Lowe & Co., traveled to New York on company business. His total expenses came to $350. Paul felt that because his trip extended over the weekend, he would "pad" his expense account with an additional $100 of expenses. After all, weekends represent his own time, not the company's time. Paul has asked you for your opinion. Provide your recommendations to Paul. Also, determine which accounts would be affected and explain how his actions would affect the financial statements.
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