Business, 07.03.2020 00:44 blairjaneaoyrfvp
The company pre-paid $40,000 for a four-year insurance policy on January 1, 2014. At the end of 2017, before the books were closed, it was discovered this full amount had been incorrectly expensed on January 1, 2014. What would be the adjustment to retained earnings on December 31, 2017 to remedy this mistake?
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The company pre-paid $40,000 for a four-year insurance policy on January 1, 2014. At the end of 2017...
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