In December 2012, the company neglected to accrue a $1,000 expense for rent. The expense was recognized
Question:
(1) The error was found in May 2013 after the 2012 books had been closed
(2) The error was found in May 2014 after the 2013 books had been closed. Ignore income taxes.
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1 Retained Earnings 1000 Rent Expense 1000 2 No correcting entry is necessary ...View the full answer
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