A Journal Entry for a $250 Payment to Purchase Supplies

Multiple Choice

A journal entry for a $250 payment to purchase supplies was erroneously recorded as a debit to Supplies for $520 and a credit to Cash for $250.Which of the following statements about the trial balance is TRUE?

A) The sum of the credits will exceed the sum of the debits by $270.
B) The sum of the debits will exceed the sum of the credits by $250.
C) The sum of the debits will exceed the sum of the credits by $270.
D) The trial balance will be in balance; the sum of the credits will equal the sum of the debits.