The Blue Ox Restaurant recorded a cash collection on account by debiting Cash and crediting Accounts Payable.
Question:
The Blue Ox Restaurant recorded a cash collection on account by debiting Cash and crediting Accounts Payable. What will the trial balance show for this error?
a. Too much for liabilities
b. Too much for assets
c. The trial balance will not balance.
d. Both a and b AppendixLO1
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Related Book For
Financial Accounting
ISBN: 9781292019543
3rd Global Edition Edition
Authors: Robert Kemp, Jeffrey Waybright, Pearson Education
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