Question
Receipts from cash sales of $7,500 were recorded incorrectly by the depositor as $5,700. What adjustment is required in the bank accounts? a. Decrease Sales;
Receipts from cash sales of $7,500 were recorded incorrectly by the depositor as $5,700. What adjustment is required in the bank accounts? a. Decrease Sales; decrease Cash b. Increase Cash; decrease Accounts Receivable c. Increase Cash; increase Sales d. No adjustment is needed.
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Managerial Accounting Creating Value In A Dynamic Business Environment
Authors: Ronald W Hilton
6th Edition
0071113142, 978-0071113144
