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While preparing the final account for the year ended 30 June 2021, the accounts clerk...

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Accounting

While preparing the final account for the year ended 30 June 2021, the accounts clerk discovered that an amount of RM13,000 payments for credit purchases for year ended 2020 has been wrongly accounted as interest on loan.

How to do this adjustment ?

Answer & Explanation Solved by verified expert
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