Business, 05.05.2020 05:16 kimloveswim

On the last day of the fiscal year, Stanley Carpenter comes to you for a favor. He asks that you enter a check for $2,000 to CD Company for Miscellaneous Expense. You notice the invoice looks a little different from other invoices that are processed. Stanley needs the check immediately to get supplies today to complete the project for a favorite customer. You know that by preparing the closing entries tomorrow, Miscellaneous Expense will be set to zero for the beginning of the new year. Should you write this check and record the expense or find an excuse to write the check tomorrow? What would be the effect if the invoice to CD Company was erroneous and you had written the check?

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On the last day of the fiscal year, Stanley Carpenter comes to you for a favor. He asks that you ent...