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Question

Accounting

From August Sales Journal:

Day of

Sales

Shipping

Amount

Month

Invoice No.

Document No.

of Sale

Cutoff Issue?

30

6091

985

$634.33

Properly recorded in August

30

6094

990

4,583.68

Cutoff error: Should be recorded in September

31

6092

986

1,069.12

Properly recorded in August

31

6093

989

1,906.75

Cutoff error: Should be recorded in September

31

6095

987

103.67

Properly recorded in August

From September Sales Journal:

Day of

Sales

Shipping

Amount

Month

Invoice No.

Document No.

of Sale

Cutoff Issue?

1

6097

984

$2,995.60

Cutoff error: Should have been recorded in August

1

6096

988

68.97

Cutoff error: Should have been recorded in August

1

6098

991

733.69

Properly recorded in September

2

6100

992

1,776.43

Properly recorded in September

2

6099

993

509.92

Properly recorded in September

(Enter the amount to the nearest cent.)

We can conclude that there is currently a net

overstatement

in August sales of

$

???

Answer & Explanation Solved by verified expert
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