A small business has $1,000 in their Bank Account, $1,000 in the Equipment Account and $2,000 in Capital. Then, the business buys $75 worth of Equipment and pays cash. The accounting entry made is: Credit Equipment $75 and Debit Bank $57. How does this error impact the Trial Balance? * The Trial Balance will not balance by $18 O The Trial Balance will not balance by $36 ($18 x 2) O The Trial Balance will not balance by $57 O The Trial Balance will not balance by $75

A small business has $1,000 in their Bank Account, $1,000 in the Equipment Account and $2,000 in Capital. Then, the business buys $75 worth of Equipment and pays cash. The accounting entry made is: Credit Equipment $75 and Debit Bank $57. How does this error impact the Trial Balance? * The Trial Balance will not balance by $18 O The Trial Balance will not balance by $36 ($18 x 2) O The Trial Balance will not balance by $57 O The Trial Balance will not balance by $75

Name: QuestionA small business has $1,000 in their Bank Account, $1,000 in
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Description: QuestionA small business has $1,000 in their Bank Account, $1,000 in the EquipmentAccount and $2,000 in Capital. Then, the business buys $75 worth of Equipmentand pays cash. The accounting entry made is: Credit Equipment $75 and DebitBank $57. How d

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter3: The Double-entry Framework

Section: Chapter Questions

Problem 6SEA: TRANSACTION ANALYSIS Linda Kipp starred a business on May 1, 20--. Analyze the following...

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