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During March, Salma Ahmad, the owner of Doan Cleaning Services, had trouble keeping her debits and credits equal. The following errors were noted: a.
During March, Salma Ahmad, the owner of Doan Cleaning Services, had trouble keeping her debits and credits equal. The following errors were noted: a. Ahmad did not post the entry to record $3,500 of services performed on account. b. In posting a $300 payment on account, debited Cash and credited Accounts Payable. c. In posting a cash payment, correctly debited Accounts Payable for $425 but incorrectly credited Cash for $245. d. In posting a cash receipt of $750, debited Cash but forgot to post the credit to Accounts Receivable. e. In posting the purchase of $1,000 of equipment on credit, debited Accounts Payable and credited Equipment. Required: 1. Indicate whether debits equals credit for each of the errors given above. Transaction a. b. C. d. 0. Analysis
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