Jace collected $520 in advance of a construction job he was working on. He erroneously debited...
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Jace collected $520 in advance of a construction job he was working on. He erroneously debited Cash for $250 and credited Accounts Receivable for $250. What is the correcting entry? A B C D Cash...... Accounts Receivable...270 ...270 Cash........... Accounts Receivable.....................70 Cash.......... Unearned Service Revenue..........520 Service Revenue.. ..250 ..520 Cash.............. Accounts Receivable...250 270 ..520 Unearned Service Revenue..........520 Jace collected $520 in advance of a construction job he was working on. He erroneously debited Cash for $250 and credited Accounts Receivable for $250. What is the correcting entry? A B C D Cash...... Accounts Receivable...270 ...270 Cash........... Accounts Receivable.....................70 Cash.......... Unearned Service Revenue..........520 Service Revenue.. ..250 ..520 Cash.............. Accounts Receivable...250 270 ..520 Unearned Service Revenue..........520
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SOLUTION The correcting entry for Jaces error would be D Cash270 Accou... View the full answer
Related Book For
Linear Algebra And Its Applications
ISBN: 9781292351216
6th Global Edition
Authors: David Lay, Steven Lay, Judi McDonald
Posted Date:
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