Solved: If the company failed to journalize and post closing, Accounting Basics

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If the company failed to journalize and post closing

Problem

Imagine a Company had $8,000 of Service revenue in year 1 and $10,000 of Service revenue in year 2. If the Company failed to journalize and post closing entries at the end of year 1, what would the balance in Service revenue be at the end of year 2?

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Accounting Basics: If the company failed to journalize and post closing

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Accounting Basics: If the company failed to journalize and post closing

Reference No:- TGS02595912

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