Helpful Journal Entries

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  • #823348
    saif
    Participant

    thank you for sharing these websites very helpful
    i confused for correct error in JE
    if during audit finding these error
    1- record an asset purchase as an expense. what is Correcting entry? which one is correct?
    Dr. Fixed Asset
    Cr. Expense
    or
    Dr. Fixed Asset
    Cr. retain earning
    so any correction should effect retain earning or not???

    2- what is correct JE if accountant record Prepaid expense as expense?

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