Craig Crayon decided that his school accounting knowledge was sufficient to see him through the first term of accounting at university. He decided to take on a bookkeeping job instead of attending accounting lectures and tutorials. The trial balance he prepared did not balance, and you (who attended all your lectures) found the following errors:

The total of the sales column in the sales journal, amounting to C10 250, was posted as C10 520 to the correct accounts in the general ledger. In addition, one transaction for C700 was not posted to the customer's account in the accounts receivable ledger.

The total of the entertainment expense column in the cash payments journal, amounting to C370, was posted to the incorrect side of the entertainment expense account in the general ledger. All other postings from the cash payments journal were correct.

The bank column in the cash payments journal was undercast by C120 and posted to the general ledger at the incorrect amount.

Which of the following statements are correct? In the trial balance prepared by Craig Crayon:

• A.

  Total credits exceeded total debits by C620.

• B.

  Total credits exceeded total debits by C250.

• C.

  Total credits exceeded total debits by C740.

• D.

  Total debits exceeded total credits by C860.