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A $130 credit to Supplies was credited to Revenue by mistake. By what amounts are the accounts under- or overstated as a result of this
A $130 credit to Supplies was credited to Revenue by mistake. By what amounts are the accounts under- or overstated as a result of this error?
Multiple Choice
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Supplies, understated $130; Revenue, overstated $130.
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Supplies, overstated $130; Revenue, understated $130.
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Supplies, understated $260; Revenue, overstated $130.
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Supplies, overstated $260; Revenue, understated $130.
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Supplies, overstated $130; Revenue, overstated $130.
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