After the year has been closed to Retained Earnings, what is the correct way to book (entry) for a check that was outstanding from the prior year, but was voided in the current year?
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After the year has been closed to Retained Earnings, what is the correct way to book (entry) for a check that was outstanding from the prior year, but was voided in the current year?
Dr. Cash
Cr. Retained Earnings
Thanks! :)
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