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he bookkeeper of Wilson Electric Supply, Inc recorded a $1.567 check as $15,670 in payment of the cu allowing journal entres is needed to adjust for this error in the books of the company? OA Rent Expense 15,670 Cash 15,670 OB. Cash 14,103 Sales Revonue 14,103 OC. Booking Error 1,567 Cash 1.567

he bookkeeper of Wilson Electric Supply, Inc recorded a $1.567 check as $15,670 in payment of the cu allowing journal entres is needed to adjust for this error in the books of the company? OA Rent Expense 15,670 Cash 15,670 OB. Cash 14,103 Sales Revonue 14,103 OC. Booking Error 1,567 Cash 1.567

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The bookkeeper of Wilson Electric Supply, Inc recorded a $1.567 check as $15,670 in payment of the current month's rent. Which of the following journal entries is needed to adjust for this error in the books of the company? O A. Rent Expense 15,670 Cash 15,670 B. Cash 14,103 Sales Revenue 14,103 O C. Booking Error 1,567 Cash 1.567 OD. Cash 14,103 Rent Expense 14,103
Transcribed Image Text:The bookkeeper of Wilson Electric Supply, Inc recorded a $1.567 check as $15,670 in payment of the current month's rent. Which of the following journal entries is needed to adjust for this error in the books of the company? O A. Rent Expense 15,670 Cash 15,670 B. Cash 14,103 Sales Revenue 14,103 O C. Booking Error 1,567 Cash 1.567 OD. Cash 14,103 Rent Expense 14,103
After closing entries have been posted O A. only temporary accounts carry balances O B. all temporary accounts will have a zero balance O C. all permanent accounts will have a zero balance O D. None of the statements are correct
Transcribed Image Text:After closing entries have been posted O A. only temporary accounts carry balances O B. all temporary accounts will have a zero balance O C. all permanent accounts will have a zero balance O D. None of the statements are correct
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