Solution-How would the company be affected if the check is

How would the company be affected if the check is written

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Reference no: EM132829580

On the last day of the fiscal year, a co-worker asks you to cut a check for $2,000 as a miscellaneous expense for supplies in order to complete a project for a VIP customer today. You notice the invoice looks a little different from other invoices that are usually processed. You know that by preparing the closing entries tomorrow, the miscellaneous expense will be set to zero for the beginning of the year.

Problem 1: Should an indivdual write this check today and record the expense or write the check tomorrow?

Problem 2: How would the company be affected if the check is written and the invoice ends up being erroneous?

Reference no: EM132829580

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How would the company be affected if the check is written

Reference no: EM132829580

Reference no: EM132829580

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