Question

At the end of Year 1, Framber Company received $8,000 as a prepayment for renting a building to a tenant during Year 2. The company erroneously recorded the transaction by debiting Cash and crediting Rent Revenue in Year 1, instead of Year 2. Upon discovery of this error in Year 2, what correcting journal entry will Framber Company make? Ignore income taxes.



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  • CreatedDecember 09, 2013
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