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As at December 31, 2020, Kendrick Corporation is having its financial statements audited for the first time ever. The auditor has found the following items that might have an effect on previous years.
Question 1: Prepare the necessary journal entries to record each of the changes or errors. The books for 2020 have been adjusted but not closed. Ignore income tax effects.
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a friend of yours who is not an accountant heard a story on the news about revenue recognition fraud and doesnt
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