Mickel's Shops" journal entry to correct the cut-off error
The auditor of Mikel's Shops obtained the following information when performing cut off testing procedures during their observation of Mikel's physical inventory count at December 31, 2009. Bill of Lading number 1235 1236 1237 1238 Date 12/31/09 12/31/09 1/2/10 1/2/10 Sales Price $12,000 $4,500 $18,000 $16,000 Cost of Goo