Answer to Question #99234 in Accounting for Mercy

Question

While reviewing the books of Haly and Wier, a partnership, the firm's accountant observed the following errors. The accounting year ends on December 31, 2005. a. An amount of $10,000 representing the sales value of goods retumed by a customer to whom the goods were sold on account was wrongly debited to cost of good sold b. Apayment of $882 towards a purchase on terms of 2/10, n/30 wasnotrecorded.The payment was made 6 days after the goods were purchased. c. An amount of $1,000 paid toward the personal travel expense of a partner was debited to travel expense.

Answer 1

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