Question
The Vaughn Company paid $530 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of $350 and a credit
The Vaughn 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. Accounts Receivable 350
Accounts Payable 530
Cash880
b. Accounts Receivable 350
Accounts Payable350
c. Accounts Payable 530
Cash530
d. Accounts Receivable 350
Cash350
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Accounting Information Systems
Authors: Robert Hurt
4th Edition
78025885, 78025884, 9781259293795 , 978-0078025884
