On November 30th,it Was Discovered That a $550 of a Transaction

question 22

Essay

On November 30th,it was discovered that a $550 of a transaction recording the purchase of office supplies was really office equipment.Prepare the journal entry to correct this situation.

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Definitions:

LFT

Liver function tests, which are blood tests used to assess the health and performance of the liver by measuring levels of liver enzymes, proteins, and bilirubin.

REBT

Rational Emotive Behavior Therapy (REBT) is a form of cognitive-behavioral therapy (CBT) that focuses on identifying irrational beliefs, challenging these beliefs, and replacing them with more rational and adaptive thoughts.

CBT

Cognitive Behavioral Therapy, a type of psychotherapy that helps individuals manage their problems by changing the way they think and behave.

Trigger

A stimulus that initiates a reaction or process, often used to describe events or conditions that lead to an undesired response, such as substance use.