At the end of its accounting period, December 31, 2012, May Corporation owed $1,000 for property taxes
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Question:
At the end of its accounting period, December 31, 2012, May Corporation owed $1,000 for property taxes which had not been recorded nor paid. Therefore, the 2012 adjusting entry should be which of the following?
A. $1,000 credited to an expense account and debited to a liability account.
B. $1,000 debited to an expense account and credited to an asset account.
C. $1,000 credited to a liability account and debited to an expense account.
D. $1,000 debited to a liability account and credited to an asset account.
Related Book For
Project Management A Managerial Approach
ISBN: 978-0470226216
7th Edition
Authors: Jack R. Meredith, Samuel J. Mantel,
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