A journal entry for a $ 50

$50 payment for rent expense was posted as a debit to Salaries Expense and a credit to Cash. Which of the following statements correctly states the effect of the error on the trialbalance?

A.

The sum of the debits will exceed the sum of the credits by $ 50

$50.

B.

The sum of the debits will exceed the sum of the credits by $ 100

$100.

C.

The sum of the credits will equal the sum of the debits.

D.

The sum of the credits will exceed the sum of the debits by $ 100

$100.

A business purchases equipment by paying $ 7 comma 316

$7,316 in cash and issuing a note payable of $ 19 comma 795

$19,795. Which of the followingoccurs?

A.

Cash is debited for $ 7 comma 316

$7,316, Equipment is credited for $ 19 comma 795

$19,795, and Notes Payable is debited for $ 12 comma 479

$12,479.

B.

Cash is credited for $ 7 comma 316

$7,316, Equipment is credited for $ 27 comma 111

$27,111, and Notes Payable is debited for $ 19 comma 795

$19,795.

C.

Cash is debited for $ 7 comma 316

$7,316, Equipment is debited for $ 19 comma 795

$19,795,and Notes Payable is credited for $ 27 comma 111

$27,111.

D.

Cash is credited for $ 7 comma 316

$7,316, Equipment is debited for $ 27 comma 111

$27,111, and Notes Payable is credited for $ 19 comma 795

$19,795.