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What adjustment journal needs to be entered in the general ledger in relation to Laura Siddal's debt? EBIT Choose... CREDIT Choose... •

What adjustment journal needs to be entered in the general ledger in relation to Laura Siddal's debt? EBIT Choose... CREDIT Choose... •

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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Aleesha has printed her trial balance in readiness for you to prepare her year end accounts as at 30/11/X0. However, she has also made some notes about items which she thinks may need adjusting prior to finalising the financial statements. Note 3: Laura Siddal is an old customer but has not paid the £500 she owes. She is having financial difficulties and the money is most likely not going to come in now. Can we get rid of the debt? What adjustment journal needs to be entered in the general ledger in relation to Laura Siddal's debt? E EBIT Choose... (Select your answer in each dropdown menu) CREDIT Choose... ?
Transcribed Image Text:Aleesha has printed her trial balance in readiness for you to prepare her year end accounts as at 30/11/X0. However, she has also made some notes about items which she thinks may need adjusting prior to finalising the financial statements. Note 3: Laura Siddal is an old customer but has not paid the £500 she owes. She is having financial difficulties and the money is most likely not going to come in now. Can we get rid of the debt? What adjustment journal needs to be entered in the general ledger in relation to Laura Siddal's debt? E EBIT Choose... (Select your answer in each dropdown menu) CREDIT Choose... ?
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