A payment of R 7 219 was recorded, in error, as R 7 719 in...

70.2K

Verified Solution

Question

Accounting

  1. A payment of R 7 219 was recorded, in error, as R 7 719 in the books of the business. The correction needed will be made as an:

    a.

    Entry in Cash Receipts Journal, R 500

    b.

    Entry in Cash Payments Journal, R 500

    c.

    Debit bank reconciliation statement, R 500

    d.

    Credit bank reconciliation statement, R 500

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students