Assume that when a purchase of supplies of $1,250 for cash was recorded, both the debit and
Question:
Assume that when a purchase of supplies of $1,250 for cash was recorded, both the debit and the credit were journalized and posted as $1,520.
(a) Would this error cause the trial balance to be out of balance?
(b) Would the trial balance be out of balance if the $1,250 entry had been journalized correctly but the credit to Cash had been posted as $1,520?
AppendixLO1
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Related Book For
Financial Accounting
ISBN: 9780324188035
9th Edition
Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess
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