Question
At year-end, a trial balance showed total credits exceed total debits by $6,200. This difference could have been caused by: The balance of $62,000 in
At year-end, a trial balance showed total credits exceed total debits by $6,200. This difference could have been caused by:
The balance of $62,000 in Accounts Payable being entered in the trial balance as $6,200.
An error in the general journal where a $6,200 increase in Accounts Receivable was recorded as an increase in Cash.
The balance of $7,000 in the Office Equipment account being entered on the trial balance as a debit of $800.
A net income of $6,200.
An error in the general journal where a $6,200 increase in Accounts Payable was recorded as a decrease in Accounts Payable.
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