In Year 2, Adams Corporation discovered that it forgot to accrue interest expense of $40,000...
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Accounting
In Year Adams Corporation discovered that it forgot to accrue interest expense of $ in Year This overstatement of pretax income was material. The related income tax effect of this error was $ for Year Required: Record the correcting entries in Year 
In Year Adams Corporation discovered that it forgot to accrue interest expense of $ in Year This overstatement of pretax income was material. The related income tax effect of this error was $ for Year
Required:
Record the correcting entries in Year
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