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PART A The accountant of Ski Streaker Stores received the monthly trial balance from the bookkeeper and found that it did not balance. On
PART A The accountant of Ski Streaker Stores received the monthly trial balance from the bookkeeper and found that it did not balance. On examination of the accounting records, the accountant discovered the following errors: 1. A payment for rent of R287 had been correctly journalised but had been debited to insurance expense as R278 in error. (The credit entry had been correctly recorded). 2. A credit note for R116 received for goods returned to a supplier had not been recorded. REQUIRED: Prepare journal entries (without narrations) to correct the abovementioned errors.
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