Multiple Choice
If an accountant erroneously records an $8,000 credit to Accounts Payable instead of an $8,000 debit to the Cash account,the Accounts Payable account will be
A) understated by $8,000.
B) overstated by $8,000.
C) understated by $16,000.
D) overstated by $16,000.
E) correct since the erroneous entry caused the trial balance to equal.
Correct Answer:
Verified
Correct Answer:
Verified
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