A journal entry for a $300 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $570

and a credit to Cash for $300.

Regent Plumbing Corporation provides plumbing services. Selected transactions of Regent Plumbing Corporation are described as follows:

A business has the following transactions:

Precision Camera Services started the year with total assets

Ajournal entry for a $300 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $570 and a credit to Cash for $300. Which of the following statements correctly states the effect of the error on the trial balance? ( A. O B. C. O D. The sum of the debits will exceed the sum of the credits by $270. The sum of the debits will exceed the sum of the credits by $300. The sum of the debits will exceed the sum of the credits by $570 The sum of the credits will exceed the sum of the debits by $270