Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bertrand Inc. performed services for clients in the amount of $2,150 on credit. If this transaction had been posted in error to the Cash account
Bertrand Inc. performed services for clients in the amount of $2,150 on credit. If this transaction had been posted in error to the Cash account instead of the Accounts Receivable account, what correcting entry would be necessary?
Multiple Choice
-
Debit Fees Income $2,150; credit Cash $2,150
-
Debit Cash $2,150; credit Accounts Receivable $2,150
-
Debit Accounts Receivable $2,150; credit Cash $2,150
-
Debit Accounts Receivable $2,150; credit Fees Income $2,150
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started