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Sales revenue for $50,000 and cost of goods sold of $30,000 were recorded by Curry on December 31, 2016, but it was discovered in 2018
Sales revenue for $50,000 and cost of goods sold of $30,000 were recorded by Curry on December 31, 2016, but it was discovered in 2018 that the merchandise did not reach the customers business until January 2, 2017. Consequently, the transaction should have been recorded in 2017.
What is the correcting journal entry (if needed) in 2018?
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