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Business, 10.12.2019 03:31 GreenHerbz206

Below are three independent and unrelated errors. on december 31, 2017, wolfe-bache corporation failed to accrue office supplies expense of $1,400. in january 2018, when it received the bill from its supplier, wolfe-bache made the following entry: office supplies expense 1,400 cash 1,400 on the last day of 2017, midwest importers received a $82,000 prepayment from a tenant for 2018 rent of a building. midwest recorded the receipt as rent revenue. at the end of 2017, dinkins-lowery corporation failed to accrue interest of $7,200 on a note receivable. at the beginning of 2018, when the company received the cash, it was recorded as interest revenue.
required: for each error: 1. what would be the effect of each error on the income statement and the balance sheet in the 2017 financial statements

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Below are three independent and unrelated errors. on december 31, 2017, wolfe-bache corporation fail...
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