Question
When DeSoto Water Works purchased a equipment at the end of 2020 at a cost of $73,000, the company debited Buildings and credited Cash
When DeSoto Water Works purchased a equipment at the end of 2020 at a cost of $73,000, the company debited Buildings and credited Cash $73,000. The error was discovered in 2021. Prepare the journal entry DeSoto will use to correct the error. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record entry to correct error. Note: Enter debits before credits. Event General Journal Debit Credit 1
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
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