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While checking sales bills with journal you have found that one sale bill amounting to OMR 15,000 is recorded as follows: Dr. Cash 16,000 Cr.
While checking sales bills with journal you have found that one sale bill amounting to OMR 15,000 is recorded as follows: Dr. Cash 16,000 Cr. Sales OMR 16,000. Identify the effect of this error on income statemer b. Profit will decrease by OMR 1,000 a. Profit will increase by OMR 1,000 d. Profit will increase by OMR 2,000 c. Profit will decrease by OMR 2,000
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