In January 20X1, before closing the books for 20X0, you notice that the December 20X0...
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Accounting
- In January 20X1, before closing the books for 20X0, you notice that the December 20X0 utility bill of $600 was neither paid nor recorded.
- What is the correcting journal entry?
- If no correcting journal entry is recorded, how are the 20X0 income statement and balance sheet, respectively, affected?
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