Multiple Choice
Jasmine Company received a $350 cheque from a customer for the balance due on an accounts receivable. The transaction was erroneously recorded as a debit to cash of $530 and a credit to service revenue of $530. The correcting entry is
A) debit Accounts Receivable $350; credit Cash $350
B) debit Accounts Receivable $180; credit Cash $180
C) debit Service Revenue $530; credit Cash $180; credit Accounts Receivable $350
D) debit Service Revenue $530; credit Cash $350; credit Accounts Receivable $180
Correct Answer:
Verified
Correct Answer:
Verified
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