For each of the following errors, indicate with a Y for yes or an N for no whether it would be detected by preparation of a trial balance a Cash is debited instead of Accounts Receivable for a sale on account b A sale on account for $500 is recorded with a debit to Accounts Receivable for $500 and ...

For each of the following errors, indicate with a Y for yes or an N for no

Question:

For each of the following errors, indicate with a Y for yes or an N for no whether it would be detected by preparation of a trial balance.
_________ a. Cash is debited instead of for a sale on account.
_________ b. A sale on account for $500 is recorded with a debit to for $500 and a credit to Sales for $5,000.
_________ c. A cash sale is recorded by debiting Cash and Sales for the same amount.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...