Question
If the bank incorrectly posts a check for office supplies as $810 instead of the correct amount of $750, what is the journal entry to
If the bank incorrectly posts a check for office supplies as $810 instead of the correct amount of $750, what is the journal entry to correct this error on the general ledger?
DR Expense $60, CR Cash $60
DR Cash $60, CR Expense $60
DR Prepaid Supplies $60, CR Cash $60
No entry is required for this reconciling item
I think its DR Cash $60 , CR Expense $60
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Accounting Theory Conceptual Issues in a Political and Economic Environment
Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki
9th edition
9781483375014, 1483375013, 9781506300108, 1506300103, 978-1483375021
