A $1,500 check written for supplies was journalized and posted as $150. The entry to correct this error is:

A) debit Supplies, $1,350; credit Cash, $1,350.
B) debit Cash, $1,350; credit Supplies, $1,350.
C) debit Supplies, $150; credit Cash, $150.
D) debit Cash, $150; credit Cash, $150.

Question

Kristen Moore · Accepted Answer

Final Answer : A, Explanation :  The error was that only $150 was recorded instead of $1,500. To correct this, an additional $1,350 should be debited to Supplies and credited to Cash to reflect the correct total of $1,500.

A $1,500 check written for supplies was journalized and posted as $150. The entry to correct this error is:

A) debit Supplies, $1,350; credit Cash, $1,350.
B) debit Cash, $1,350; credit Supplies, $1,350.
C) debit Supplies, $150; credit Cash, $150.
D) debit Cash, $150; credit Cash, $150.

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Learning Objectives

Learning Objectives

Related questions

A $1,500 check written for supplies was journalized and posted as $150. The entry to correct this error is:A) debit Supplies, $1,350; credit Cash, $1,350.B) debit Cash, $1,350; credit Supplies, $1,350.C) debit Supplies, $150; credit Cash, $150.D) debit Cash, $150; credit Cash, $150.

Definitions

Learning Objectives

Learning Objectives

Related questions

A $1,500 check written for supplies was journalized and posted as $150. The entry to correct this error is:

A) debit Supplies, $1,350; credit Cash, $1,350.
B) debit Cash, $1,350; credit Supplies, $1,350.
C) debit Supplies, $150; credit Cash, $150.
D) debit Cash, $150; credit Cash, $150.