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What correcting journal entry will framber make

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Reference no: EM132683770

At the end of 2016, Framber Company received $8,000 as a prepayment for renting a building to a tenant during 2017. The company erroneously recorded the transaction by debiting Cash and crediting Rent Revenue in 2016 instead of 2017.

Problem 1: Upon discovery of this error in 2017, what correcting journal entry will Framber make? Ignore income taxes.

Reference no: EM132683770

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