A payment on account was recorded by debiting Inventory and crediting Cash. This entry was posted. The

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A payment on account was recorded by debiting Inventory and crediting Cash. This entry was posted. The correcting entry is (p. 144)

a. Accounts Payable ............... X Inventory

$\mathrm{X}$

b. Inventory Accounts Payable ...... $\mathrm{X}$

c. Cash........................................ X Accounts Payable ...... $\mathrm{X}$

d. Cash.................................... X Inventory

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Financial Accounting

ISBN: 9780133118209

2nd Edition

Authors: Charles T. Horngren, Jr. Harrison, Walter T.

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Question Posted: Jun 10, 2024 01:09 AM

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A payment on account was recorded by debiting Inventory and crediting Cash. This entry was posted. The

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Financial Accounting

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