If there were two debit entries of R650 each in a journal entry, and one credit entry of R500, what would the fourth entry be? a.A credit entry of R1 800 b.A credit entry of R500 c.A credit entry of R800 d.A debit entry of R1 800

If there were two debit entries of R650 each in a journal entry, and one credit entry of R500, what would the fourth entry be? a.A credit entry of R1 800 b.A credit entry of R500 c.A credit entry of R800 d.A debit entry of R1 800

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 1QY: Determine the balance of the following T account: 94,100 debit 54,900 debit 133,300 credit 54,900...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

If there were two debit entries of R650 each in a journal entry, and one credit entry of R500, what would the fourth entry be?

a.A credit entry of R1 800

b.A credit entry of R500

c.A credit entry of R800

d.A debit entry of R1 800

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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