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Journal entryAdvancedPublished

Question · Adjusting events

In February 2026, before the 2025 accounts are authorised, Leulbia discovers that an employee embezzled 26,000 in 2025, disguising the payments as advances to fictitious suppliers. Record the correcting entry in the 2025 accounts.

Amount embezzled
26,000
Your answer
  1. Line 1

    Account Fraud losses

  2. Line 2

    Account Advances to suppliers

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