The following adjusting journal entry found in the journal is missing an explanation. Select the best explanation for the entry. 
Definitions:
Commercial Letter
A formal letter used in the business context for communications between companies, or between a company and its customers, suppliers, or partners.
Written Commitment
A formally documented promise or agreement, often legally binding, outlining specific actions or behaviors.
Open Account Agreement
A payment term arrangement between sellers and buyers where goods are shipped and delivered before payment is due.
Least Safe
Describes items or situations that are considered to have the highest level of risk or danger compared to others.
Q4: The erroneous moving of an entire number
Q61: Purchased equipment for cash<br>A)Increase assets, increase liabilities<br>B)Increase
Q65: Abbey Co. sold merchandise to Gomez Co.
Q109: What is the goal of the closing
Q137: Data for an adjusting entry described as
Q138: The following entry was recorded in the
Q153: What information does the income statement give
Q154: The supplies account had a balance of
Q191: Paying an account payable increases liabilities and
Q204: The last step of the accounting cycle