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Explain how would correct the type of an account

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Reference no: EM132779045

Problem 1: Why are Fixed Asset accounts often grouped into parent and subaccounts?

Problem 2: How would you correct the type of an account?

Problem 3: Why is it sometimes better to enter customer opening balances as separate invoices, rather than as one summary amount?

Problem 4: How should customer and vendor opening balances be corrected if they were entered with an error?

Reference no: EM132779045

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