43 SAT Company paid $530 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of $350 and a credit to Accounts Receivable, $350. The correcting entry is O a. Dr. Accounts receivables $350 Cr. Accounts payable $ 350 O b. Dr. Accounts payable $530 Cr. Cash $530 O c. Dr. Accounts receivable 350 Dr. Accounts payable $530, Cr. Cash $880 d. Dr. Accounts receivables $350 Cr. Cash S 350
43 SAT Company paid $530 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of $350 and a credit to Accounts Receivable, $350. The correcting entry is O a. Dr. Accounts receivables $350 Cr. Accounts payable $ 350 O b. Dr. Accounts payable $530 Cr. Cash $530 O c. Dr. Accounts receivable 350 Dr. Accounts payable $530, Cr. Cash $880 d. Dr. Accounts receivables $350 Cr. Cash S 350
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 2E: Based on the data presented in Exercise 5-1, assume that the beginning balances for the customer...
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