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You have received the list of Vouchers Payable from your audit client, for the year ended (and under audit) on December 31, 2023 The client's
You have received the list of Vouchers Payable from your audit client, for the year ended (and under audit) on December 31, 2023 The client's balance in the Vouchers Payable account is $53,000. This $53,000 is made up of the following vendors to whom they owe payment: A) lowa Lighting \$20,000; Invoice dated December 8, 2023 B) Nebraska Tables $10,000; Invoice dated December 23, 2023 C) Colorado Furniture $15,000; Invoice dated November 30, 2023 D) Montana Design \$8,000; Invoice dated December 17, 2023. You believe there are other liabilities that have not been reflected yet. You examine the checks written in January of 2024 to see if there are any unrecorded liabilities for December 2023. JANUARY 2024 CHECK JOURNAL: Check No. 101 Check No. 102 Check No. 103 Check No. 104 William's Cleaning Services - Invoice Date: October 2023, \$500 (Nov. and Dec. need to be paid too) lowa Lighting Company (Inventory) - Invoice Date: December 8, 2023 - \$20,000 Dudley's Pastries (catered Christmas party) - Invoice Date: December 26,2023 - \$1,000 Advertising XYZ Co. - Invoice Date: December 1, 2023 - \$12,000 for an advertising campaign from December 1, 2023 to May 31, 2024. REQUIRED: A) Prepare the necessary adjusting journal entries to obtain the correct balance in your client's Accounts Payable as of December 31, 2023. B) What is the correct audited balance in A/P as of December 31, 2023
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