Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A payment to a credit supplier for 65 has been posted as DR Bank 65, CR Payables 65 (+ CR Supplier account 65). What

A payment to a credit supplier for 65 has been posted as DR Bank 65, CR Payables 65 (+ CR Supplier account 65). What is the journal to correct this? DEBIT/CREDIT VALUE 130 130 DEBIT Payables CREDIT Bank DEBIT Supplier account 130 (Drag the correct answer into each blank space above)

Step by Step Solution

3.45 Rating (161 Votes )

There are 3 Steps involved in it

Step: 1

Analysis In the given case the payment was made fo... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Financial and Managerial Accounting

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

4th Edition

978-0133251241, 9780133427516, 133251241, 013342751X, 978-0133255584

More Books

Students also viewed these Accounting questions

Question

What is the journal entry to retire bonds at maturity?

Answered: 1 week ago

Question

What is the journal entry to close management fee revenue?

Answered: 1 week ago