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Financial Statements

Your task is to prepare an income statement and a balance sheet in good format after adjusting for the two errors below.

1 - A physical count of inventory indicates $75,000 on hand.
2 - There's a check for $10,000 from a customer that has not been recorded in the working trial balance. The check is payment for a purchase made two weeks ago.

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Solution Summary

Detailed information on creating the income statement and balance sheet