Adjustment for the deferral

by | Nov 11, 2021 | Homework Help

If the adjustment for the deferral of a prepaid item was omitted what would happen to period’s expenses and period end assets?To record the expiration of part of the lease (rent) will require an adjustment of:(assets and expenses)Sales discount correctly taken by the charge customer was debited to sales at the time the entry was recorded- what would this error do?

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