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Hello sir I hope you are doing well. There is a question I want to ask can u plzz correct me if I am wrong.
Q:
Emily’s draft accounts report a profit of $11,855.
However, an accrual of $398 was treated as a prepayment, and a prepayment of $480 was incorrectly recorded as $522.What is the correct profit?
My calculations are
=398*2=796
=11,855-796-42
=$11,017
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