
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 15
Assume that when a purchase of supplies of $2,650 for cash was recorded, both the debit and the credit were journalized and posted as $2,560. (a) Would this error cause the trial balance to be out of balance (b) Would the trial balance be out of balance if the $2,650 entry had been journalized correctly but the credit to Cash had been posted as $2,560
Explanation
a. This is a transposition error. It wil...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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