Question
A company recorded a cash receipt incorrectly. Accounts Receivable was debited for $8,000 and Cash was credited for $8,000. The correct entry would be debit
A company recorded a cash receipt incorrectly. Accounts Receivable was debited for $8,000 and Cash was credited for $8,000. The correct entry would be debit cash for $8,000 and Receivable for $8,000. Is the trial balance out of balance?
a. Yes, by $8,000.
b. Yes, by $4,000.
c. Yes, by $32,000.
d. Yes, by $16,000.
e. No.
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Forensic Accounting And Fraud Investigation For Non-Experts
Authors: Stephen Pedneault, Frank Rudewicz, Howard Silverstone, Michael Sheetz
3rd Edition
0470879599, 9780470879597
