.All statement are limitations of trial balance Except: OMR 650 collected from customer, is debited to cash for OMR650 and credited to account receivable for OMR650. a. OMR 100 cash drawing by the owner is debited to Owner's Drawings for OMR 1,000 and credited to Cash for OMR 1 O b. O C. transaction is not journalized. the purchase of Supplies on account is debited to Supplies and credited to Cash.

.All statement are limitations of trial balance Except: OMR 650 collected from customer, is debited to cash for OMR650 and credited to account receivable for OMR650. a. OMR 100 cash drawing by the owner is debited to Owner's Drawings for OMR 1,000 and credited to Cash for OMR 1 O b. O C. transaction is not journalized. the purchase of Supplies on account is debited to Supplies and credited to Cash.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please explain with details also explain wrong options
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