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A company s trial balance shows a difference between the debit and credit columns. Upon investigation, it is found that a purchase of inventory worth
A companys trial balance shows a difference between the debit and credit columns. Upon investigation, it is found that a purchase of inventory worth $ was recorded in the Purchases Account but was mistakenly credited to the Cash Account instead of debiting it What will be the correct adjusting entry?
Question options:
Debit Purchases $ Credit Cash $
Debit Cash $ Credit Purchases $
Debit Purchases $ Credit Cash $
Debit Cash $ Credit Purchases $
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