Question 25) Your audit client shipped some merchandise to a customer on December 28 of...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Question 25) Your audit client shipped some merchandise to a customer on December 28 of the current year. The goods sold for $3,000 and the client had accumulated manufacturing costs of $2,000 for the goods. A sale on account was recorded, but due to a computer error, the goods remained in the recorded inventory as of the end of the year. The required adjusting entry will:
Group of answer choices
a)decrease net income.
b)decrease sales revenue.
c)decrease accounts receivable
d)all of the above.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
