A trial balance has total debits of $20,000 and total credits of $24,500. Which one of the

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A trial balance has total debits of $20,000 and total credits of $24,500. Which one of the following errors would create this imbalance? Explain.
a. A $2,250 credit to Consulting Fees Earned in a journal entry is incorrectly posted to the ledger as a $2,250 debit, leaving the Consulting Fees Earned account with a $6,300 credit balance.
b. A $4,500 debit to Salaries Expense in a journal entry is incorrectly posted to the ledger as a $4,500 credit, leaving the Salaries Expense account with a $750 debit balance.
c. A $2,250 debit to Rent Expense in a journal entry is incorrectly posted to the ledger as a $2,250 credit, leaving the Rent Expense account with a $3,000 debit balance.
d. A $2,250 debit posting to Accounts Receivable was posted mistakenly to Cash.
e. A $4,500 debit posting to Equipment was posted mistakenly to Supplies.
f. An entry debiting Cash and crediting Notes Payable for $4,500 was mistakenly not posted.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Managerial Accounting

ISBN: 978-0073379586

2010 Edition

Authors: John J. Wild, Ken W. Shaw

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