Cash sales of $2079 have caused the worksheet to be out of balance because a mistake was

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Cash sales of $2079 have caused the worksheet to be out of balance because a mistake was made when the figures were put into the worksheet. The bookkeeper accidentally increased the cash account by $2097 and increased the profit or loss account in the worksheet by $2079. This is often referred to as a ‘transposition error’. Discuss how this type of error can be quickly identified and corrected.

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Accounting Business Reporting For Decision Making

ISBN: 9780730363415

6th Edition

Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver

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