Question
A trial balance will Not balance if a. a $350 payment of rent is debited to Rent Expense for $350 and credited to cash for
A trial balance will Not balance if
a. a $350 payment of rent is debited to Rent Expense for $350 and credited to cash for $35.
b. a $500 payment on accounts payable is debited to Accounts Payable for $50 and credited to cash for $50.
- Why a is correct, and b is the wrong answer? Please, explain it detailed.
Thank you.
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Enterprise Compliance Risk Management An Essential Toolkit For Banks And Financial Services
Authors: Saloni Ramakrishna
1st Edition
1118550285, 978-1118550281
