Question: Can someone please help me ? thanksThis is a multiple answer question. In July 2 0 2 5 , Earnest Company made a sale to

 Can someone please help me? thanksThis is a multiple answer question.

Can someone please help me? thanksThis is a multiple answer question.
In July 2025, Earnest Company made a sale to a customer for $25,000 on account. The bookkeeper made the following entry: DR Accounts receivable $25,000; CR Interest Revenue
$25,000. Before the books were closed in 2025, the Controller questioned whether sales during the year seems low. Upon investigation, the Accounting Manager reported that the $25,000
sale to a customer in July 2025 had been incorrectly reported as interest revenue. When the correcting entry is made, which components will be included? (Choose all that apply)
A. debit retained earnings 11$25,000
B. credit accounts receivable $25,000
c. debit cash $25,000
D. credit sales revenue $25,000
E. debit interest revenue $25,000
In July 2025, Earnest Company made a sale to a customer for

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!