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On December 31, 2021, Sherry Company had prepared income statement, balance sheet, and a statement of cash flows and had the following balances for selected items:

During an audit, the auditor detected the following error:

Error: Company collected $5000 from a customer in advance for services to preformed in the future but had forgotten to record and account for that.

What would be the adjusted balances for the above items in the financial statements after recording the above transaction?

Example of Answer: 4000 No comma, space, decimal point, or $ sign.

Show negative amount or loss with a minus. Example: -4000 No comma, space, decimal point, or $ sign.

On December 31, 2021, Sherry Company had prepared income statement, balance sheet, and a statement of cash flows and had the following balances for selected items: During an audit, the auditor detected the following error: Error: Company collected $5000 from a customer in advance for services to preformed in the future but had forgotten to record and account for that. What would be the adjusted balances for the above items in the financial statements after recording the above transaction? Example of Answer: 4000 No comma, space, decimal point, or $ sign. Show negative amount or loss with a minus. Example: 4000 No comma, space, decimal point, or $ sign. Revenues = Expenses = Net Income = Total Assets = Total Liabilities = Total SE = Net Cash Flows from Operating Activities = Net Cash Flows from Investing Activities = Net Cash Flows Financing Activities =

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