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During your audit of Cookie Factory, Inc.for the year ended December 31, 2020, you discover that Cookie Factory incorrectly booked a December 31, 2020 credit sale in January 2021.Explain how this error will impact the Income Statement and Balance Sheets for the years ending December 31, 2020 and 2021.
Sensory Decay
The decline in the ability of a sensory system to detect or accurately interpret information over time or due to external factors.
Retrograde Amnesia
A loss of memory for experiences that occurred shortly before a loss of consciousness.
State-Dependent Memory
The phenomenon where information learned in a particular state of mind is more easily recalled when in that same state.
Repulsed Feeling
An intense feeling of disgust or aversion towards something or someone.
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