rico's taqueria had cash inflows from operating activities of $27,000; a company borrows $125,000 from the northern bank and receives the loan proceeds in cash. this represents a(n): it is obvious that an error occurred in the preparation and/or posting of closing entries if:

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Accy 303 chapters 13 Assets created by selling goods and services on credit are: Accounts receivable. The right side of a Taccount is a(n): Credit. Identify the account below that is classified as an asset account: Supplies A $130 credit to Supplies was credited to Fees Earned by mistake. By what amounts are the accounts under or overstated as a result of this error? Supplies, overstated $130; Fees Earned, overstated $130. After preparing and posting the closing entries for revenues and expenses, the income summary account has a debit balance of $33,000. The entry to close the income summary account will be: Debit Retained Earnings $33,000; credit Income Summary $33,000. The rule that requires financial statements to refl