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SAT Company paid $530 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of $350 and a credit to
SAT Company paid $530 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of $350 and a credit to Accounts Receivable, $350. The correcting entry is a. Dr. Accounts receivables $350 Cr. Cash $ 350 b. Dr. Accounts receivable 350 , Dr. Accounts payable $530, Cr. Cash $880 c. Dr. Accounts payable $530 Cr. Cash $530 d. Dr. Accounts receivables $350 Cr. Accounts payable $ 350
SAT Company paid $530 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of $350 and a credit to Accounts Receivable, $350. The correcting entry is
a.
Dr. Accounts receivables $350 Cr. Cash $ 350
b.
Dr. Accounts receivable 350 , Dr. Accounts payable $530, Cr. Cash $880
c.
Dr. Accounts payable $530 Cr. Cash $530
d.
Dr. Accounts receivables $350 Cr. Accounts payable $ 350
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
18th Edition
1119790972, 9781119790976
