Wilson Incorporated acquired a leather- cutting machine for $ 200,000 on December 31, 2015. The general accountant

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Wilson Incorporated acquired a leather- cutting machine for $ 200,000 on December 31, 2015. The general accountant incorrectly coded the invoice as Miscellaneous Expense. The general accountant discovered the error in 2015 before the books were closed. The transaction was correctly recorded for tax purposes and all taxes were paid. Prepare the correcting entry for this transaction.
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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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