Assume that when a purchase of supplies of $1,250 for cash was recorded, both the debit and

Question:

Assume that when a purchase of supplies of $1,250 for cash was recorded, both the debit and the credit were journalized and posted as $1,520.
(a) Would this error cause the trial balance to be out of balance?
(b) Would the trial balance be out of balance if the $1,250 entry had been journalized correctly but the credit to Cash had been posted as $1,520?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

Question Posted: