if you post that transaction and run a Balance Sheet report in 2021, Accrued other expenses will be negative. How do you fix the negative balance? if the old transaction is Debit : Electricity 6550 : 1000$ Debit: Accrued Other Expenses 1000$ Credit: Account Payable: 2000$ .

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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if you post that transaction and run a Balance
Sheet report in 2021, Accrued other expenses
will be negative. How do you fix the negative
balance?
if the old transaction is
Debit : Electricity 6550 : 1000$
Debit: Accrued Other Expenses 1000$
Credit: Account Payable: 2000$ .
Thanks,
Transcribed Image Text:if you post that transaction and run a Balance Sheet report in 2021, Accrued other expenses will be negative. How do you fix the negative balance? if the old transaction is Debit : Electricity 6550 : 1000$ Debit: Accrued Other Expenses 1000$ Credit: Account Payable: 2000$ . Thanks,
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