Assume that when a purchase of supplies of $1,030 for cash was recorded, both the debit and

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Assume that when a purchase of supplies of $1,030 for cash was recorded, both the debit and the credit were journalized and posted as $1,300.
(a) Would this error cause the trial balance to be out of balance?
(b) Would the trial balance be out of balance if the $1,030 entry had been journalized correctly, but the credit to Cash had been posted as $1,300?

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Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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