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PrintCorrecting entriesRoberts Company has employed a bookkeeper who isinexperienced. On December 27, after reviewing the records forthe year, you discover the following error.On August 1, Roberts Company received $700 on account(from a customer for services previously performed and billedon July 15). The bookkeeper recorded this by debitingCashand crediting Service Revenue.Required:Prepare acorrecting entryon December 27. Make sure to enterthe day for each separate transaction.
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Accounting, Revenue, Generally Accepted Accounting Principles, Double entry bookkeeping system, Service Revenue