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Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615 Exercise 7
Assume that Muscular Consulting erroneously recorded the payment of $7,500 of owner withdrawals as a debit to Salary Expense. (a) How would this error affect the equality of the trial balance (b) How would this error affect the income statement, statement of owner's equity, and balance sheet
Explanation
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The correct entry should have been -:
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Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
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