A customer pays on an account and the payment was incorrectly posted as a debit to a
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Question:
A customer pays on an account and the payment was incorrectly posted as a debit to a revenue account. The credit was properly posted to accounts receivable. This would cause:
capital to be overstated.
assets to be overstated.
revenue to be understated.
liabilities to be understated.
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Posted Date: