A payment of $500 to a vendor was recorded with a debit to Accounts Payable of $50
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Question:
A payment of $500 to a vendor was recorded with a debit to Accounts Payable of $50 and a credit to Cash of $500.
Which of the following statements is true?
a. The credit column will be $450 larger than the debit column.
b. The trial balance will be misstated but not unequal.
c. The debit column will be $450 larger than the credit column.
d. All of the statements are true.
e. None of the statements are true.
Related Book For
Horngrens Cost Accounting A Managerial Emphasis
ISBN: 978-0134475585
16th edition
Authors: Srikant M. Datar, Madhav V. Rajan
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