A Trial Balance Taken at Year-End Showed Total Credits Exceeding

Multiple Choice

A trial balance taken at year-end showed total credits exceeding total debits by $4,950.This discrepancy could have been caused by:

A) An error in the general journal where a $4,950 increase in Accounts Receivable was recorded as an increase in Cash
B) A net income of $4,950
C) The balance of $49,500 in Accounts Payable being entered in the trial balance as $4,950
D) The balance of $5,500 in the Office Equipment account being entered on the trial balance as a debit of $550
E) An error in the general journal where a $4,950 increase in Accounts Payable was recorded as a decrease in Accounts Payable