In the year 20X1, a lawsuit erupts between TK and its supplier KT. The legal dispute is expected to result in legal costs of EUR 15,000. The process will continue and be decided in the year 20X2. In February 20X2 comes an invoice for the legal costs of EUR 12,000. TK will settle the bill in April. Which of the following posting records result/result in the years 20X1 or 20X2 from the business transactions mentioned?

In the year 20X1, a lawsuit erupts between TK and its supplier KT. The legal dispute is expected to result in legal costs of EUR 15,000. The process will continue and be decided in the year 20X2. In February 20X2 comes an invoice for the legal costs of EUR 12,000. TK will settle the bill in April. Which of the following posting records result/result in the years 20X1 or 20X2 from the business transactions mentioned?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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