Lindelwa discovered that goods sold on credit to Zack, $260, had been incorrectly credited to Zacharys account Which journal entry corrects this error Debit Credit A 520 Suspense Zachary 260 Zack 260 B Zachary 260 Zack 260 Suspense 520 Zachary 260 Zack 260 Zack 260 Zachary 260 24...

ANSWER Based on the information given it seems that the goods were sold on credit to Zack but ...

Lindelwa discovered that goods sold on credit to Zack, $260, had been incorrectly credited to Zacharys account.

Question:

Lindelwa discovered that goods sold on credit to Zack, $260, had been incorrectly credited to Zachary’s account.

Which journal entry corrects this error?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cambridge IGCSE And O Level Accounting Coursebook

ISBN: 9781316502778

2nd Edition

Authors: Catherine Coucom

See More Books

Question Posted: Sep 16, 2021 01:45 AM

See More Questions

Which of the following is an advantage of the corporate form of business organization? a. double taxation b. amount of regulation c. limited liability d. entrenched management
To correct a data error in a payroll journal entry after posting it you should a. select the employee from the employee's list b. select the adjust paycheque tool as a first step c. select the...
Zeeshan Limited (ZL), a listed company, is engaged in 'spinning', 'weaving', 'knitting', 'dyeing' and 'home textile' businesses. Result of each business segment for the year ended June 30, 2018 are...
In 2012, the average credit score for loans that were purchased through Fannie Mae was 766. A random sample of 35 mortgages were selected, and it was found that the average credit score was 771with a...
1. Describe the unique challenges faced by companies that sell highly perishable products. 2. How does 1-800-FLOWERS meet and address those challenges? 3. What other types of distribution or product...
1. What clues caused Jane to suspect that fraud was involved? 2. Why is it important for fraud examiners to follow up on even the smallest inconsistencies? 3. In an attempt to identify possible...
Read about the corporate culture of three leading IT companies, such as that from Google shown in Figure 1-27. Compare each statement of values and describe the type of employee you think each...
Dan Jones is the new CIO of Ricochet Systems, an Internet securities broker. After assessing the e-commerce risks in his company, he determines that passwords are a weak link that needs additional...
A Provincial bond is quoted at a price of 88.21 and carries a 7.25% coupon. The bond pays interest semi-annually. What is the current yield on one of these bonds? 3-(20 marks) The Anisha Corporation...
Find the lengths of the following curves: y = 2 + 3t, y = t + sint, a. x = 1 - t b. x = cost x = t c. and and e. and y = 2t/2, - 2/3 t 1 0 tn 0t3 d. x = t/2 and y = (2t + 1)/3, 0t4 x = 8cost + 8t...
At the end of his financial year on 31 July 204, Silas opened a suspense account with a credit balance of $70. a. Suggest one reason why this account was required. After preparing draft financial...
Jenny owns a retail store. Her financial year ends on 31 July. On 31 July 201: Jenny purchased stationery, $112, on credit from AB Supplies Jenny took goods, costing $130, for personal use Jenny...
Audra Dodge, CPA, is performing an attributes sampling plan for her audit of Truck Company. In her audit of cash disbursements, she has identified preparing a voucher and marking it as paid prior to...
1) Factor the following Expressions (Write your factors only, don't show your work) a) 2x - 32 = c) 3x-2x-8= b) 2x-6x-8=
Bloomfield Inc. manufactures widgets. A major piece of equipment used to make the widget is nearing the end of its useful life. The company is trying to decide whether they should lease new equipment...
1. a. What is network management? Illustrate network management functional flowchart. [2.5] b. What encoding and decoding mechanisms are used in fast Ethernet and gigabit Ethernet? What is meant by...
Project Data: Sam Parker owns and operates a consulting firm called Business Solutions. The business began operating in October 202X. Transactions for October and November 202X have been recorded and...
3. Use Hooke's law to predict which one out of each pair vibrates at a higher wavenumber. Explain your answer. (7 points) a) C-H and C-D* b) C-C and C=C where: 1 k v = 2, v=wavenumber c = velocity of...
Refer to the situation described in E 1417. Required: 1. Prepare the journal entry on January 1, 2021, for Truax Corporations sale of the lathe. Assume Truax spent $400,000 to construct the lathe. 2....
A supermarket chain is interested in exploring the relationship between the sales of its store-brand canned vegetables (y), the amount spent on promotion of the vegetables in local newspapers (x1)...
A woman with extensive experience in home health care and a good marketing plan has approached a bank for a loan, most of which she has explained she intends to invest in advertising designed to...
Could the idea of mass customization be used by a publisher of college textbooks to allow different instructors to order customized teaching materials perhaps even unique books made up of chapters...
Give examples of two different ways that a firms production capacity might influence a marketing managers choice of a marketing strategy.
What general conclusions can you draw about your companys liquidity, solvency and productivity based on your ratio calculations. Working Capital 2017 = $9,994 M 2016 = $10,673 M Current Ratio 2017 =...
Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain...
5. The current spot exchange rate is 0.95/$ and the three-month forward rate is 0.91/$. Based on your analysis of the exchange rate, you are pretty confident that the spot exchange rate will be...

Lindelwa discovered that goods sold on credit to Zack, $260, had been incorrectly credited to Zacharys account.

Question:

Debit Credit A 520 Suspense Zachary 260 Zack 260 B Zachary 260 Zack 260 Suspense 520 Zachary 260 Zack 260 Zack 260 Zachary 260 %24

Step by Step Answer:

ANSWER Based on the information given it seems that the goods were sold on credit to Zack but ...View the full answer

Cambridge IGCSE And O Level Accounting Coursebook

Students also viewed these Business questions