In journalizing and posting the entry to record the purchase of supplies on account, the accounts receivable account was credited in error What is the preferred procedure to correct this error ...

The preferred procedure is to journalize ...

In journalizing and posting the entry to record the purchase of supplies on account, the accounts receivable

Question:

In journalizing and posting the entry to record the purchase of supplies on account, the account was credited in error. What is the preferred procedure to correct this error?

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...