Topic: Accounting Adjustments

Class: Bookkeeping

Analyze, schedule and post the following adjustments for the date of April $30,20$XX$.$ Use

The following transaction must be corrected: Cash sale for $$1,000$ had been recorded. At the time of review $,$ it is determined that the sale was for $$1,500.$

A physical inventory count was done and it was determined that there is a final balance of $$300.$ The initial balance of the account It's $$900.$

The previously prepaid month's rent expired $($was used$).$ The monthly expense is $$600.$

The following transaction recorded in March must be reversed: A car was purchased for $$3,000$ in cash.