For each of the following errors, considered individually, indicate whether the error would cause the trial balance

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For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much.
a. The payment of an insurance premium of $3,600 for a two-year policy was debited to Prepaid Insurance for $3,600 and credited to Cash for $6,300.
b. A payment of $725 on account was debited to Accounts Payable for $752 and credited to Cash for $752.
c. A purchase of supplies of $900 was debited to Supplies for $900 and debited to Accounts Payable for $900.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
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Corporate Financial Accounting

ISBN: 9781337398169

15th Edition

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

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