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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
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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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 O c. Dr. Accounts receivable 350 , Dr. Accounts payable $530, Cr. Cash $880 O d. Dr. Accounts receivables $350 Cr. Cash $530 Cr. Cash $ 350
Transcribed Image Text: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 O c. Dr. Accounts receivable 350 , Dr. Accounts payable $530, Cr. Cash $880 O d. Dr. Accounts receivables $350 Cr. Cash $530 Cr. Cash $ 350
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