Would there be a correcting journal entry

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Reference no: EM133379801

Question: A customer paid $180,000 for a special order on 9/22/2020. The cash receipt was appropriately recorded (debit to cash and credit to unearned revenue), but no entry was made on 12/31/2021 when the order was shipped. The inventory cost $140,400 to produce

Would there be a correcting journal entry and how would this effect the financial statement?

Reference no: EM133379801

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