A business hired a repair service to overhaul its plumbing system. The repair service began work on September 15 and intends to complete it on October 15. The business will pay the repair service $4,000 when the work is completed
As of September 30, the work was 50% complete. Provide the adjusting entry to accrue repair expense by the end of September. (Ignore explanation).
What will be an ideal response
Repair Expense 2,000
Accounts Payable 2,000
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Answer the following statement true (T) or false (F)
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