Question
At year-end, a trial balance showed total credits exceed total debits by $6,050. This difference could have been caused by: A)The balance of $60,500 in
At year-end, a trial balance showed total credits exceed total debits by $6,050. This difference could have been caused by:
A)The balance of $60,500 in Accounts Payable being entered in the trial balance as $6,050.
b)An error in the general journal where a $6,050 increase in Accounts Payable was recorded as a decrease in Accounts Payable.
c)A net income of $6,050.
d)The balance of $6,820 in the Office Equipment account being entered on the trial balance as a debit of $770.
e)An error in the general journal where a $6,050 increase in Accounts Receivable was recorded as an increase in Cash.
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