Sponsored Topics. Stokesdale is a town in the northwestern corner of Guilford County, North Carolina, United States. The population was 3,267 at the 2000 census. Belews Lake is located nearby. Stokesdale is located at 36Â°14â²11â³N 79Â°58â²57â³W / 36.23639Â°N 79.9825Â°W / 36.23639; -79.9825 (36.236371, -79.982393).
The Cost of Bad Data is the Illusion of Knowledge. Each time I open Salesforce in my browser, I think of Stephen Hawking. Itâs because of an aphorism an entrepreneur shared with me a few weeks ago. The cost to fix a data error at the time of entry is $1. The cost to fix it an hour after itâs been entered is $10. And the cost to fix it several months later is $100+. Take for example a venture capitalistâs CRM tool.
When an error is discovered in the accounting records, it should be corrected immediately to prevent the processing of wrong data which results to unreliable financial statements. A correcting entry is a journal entry whose purpose is to rectify the effect of an incorrect entry previously made. To illustrate how to prepare correcting entries, here are some examples. On December 5, 2016, Gray Electronic Repair Services paid $370 registration and licensing fees for the business.