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The Bookkeeper Recorded a Payment on Account as $150 Instead

Question 11

Multiple Choice

The bookkeeper recorded a payment on account as $150 instead of the correct amount of $510.What journal entry is required?


A) Debit Accounts Payable for $510 and credit Cash for $510.
B) Debit Accounts Receivable for $510 and credit Cash for $510.
C) Debit Accounts Payable for $360 and credit Cash for $360.
D) Debit Cash for $360 and credit Accounts Payable for $360.

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