A $500 purchase of merchandise on account from Bowie Company was properly recorded in the purchases journal.

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A $500 purchase of merchandise on account from Bowie Company was properly recorded in the purchases journal. When posted, however, the amount recorded in the subsidiary ledger was $50. How might this error be discovered?

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Accounting Tools for business decision making

ISBN: 978-0470095461

4th Edition

Authors: kimmel, weygandt, kieso

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Question Posted: Nov 08, 2022 01:33 AM

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A $500 purchase of merchandise on account from Bowie Company was properly recorded in the purchases journal.

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This error might be discovered through several methods such as Reconciliation of Accounts Payable A ...View the full answer

Accounting Tools for business decision making

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