A customer paid for merchandise with a check that has been erroneously entered into Mutares cash account

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A customer paid for merchandise with a check that has been erroneously entered into Mutare’s cash account for $48 (it actually has been issued and paid for $84).

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Record the appropriate journal entry to correct the error.

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-0324787351

1st Edition

Authors: Rich Jones, Mowen, Hansen, Heitger

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Question Posted: Jan 16, 2013 03:48 AM

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A customer paid for merchandise with a check that has been erroneously entered into Mutares cash account

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Journal entry is as follows Cash 36 Interest Income 36 A customer paid for merchand...View the full answer

Cornerstones of Financial and Managerial Accounting

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