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At year-end a trial balance prepared shows total credits exceed total debits by $855. This discrepancy could have been caused by a. An error in the general journal where an increase of $855 in accounts payable was recorded as a decrease of $855 in accounts payable. b. The ledger balance of accounts receivable was wrongly entered in the trial balance as 95 instead of $950. c. The ledger balance for accounts payable of $8,550 entered in the trial balance as $85s. d. $855 increase in accounts receivable was recorded as a $855 increase in cash in general journal. Answer OB Oc OD

At year-end a trial balance prepared shows total credits exceed total debits by $855. This discrepancy could have been caused by a. An error in the general journal where an increase of $855 in accounts payable was recorded as a decrease of $855 in accounts payable. b. The ledger balance of accounts receivable was wrongly entered in the trial balance as 95 instead of $950. c. The ledger balance for accounts payable of $8,550 entered in the trial balance as $85s. d. $855 increase in accounts receivable was recorded as a $855 increase in cash in general journal. Answer OB Oc OD

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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10:31 AM experthiring.cheggindia.com/ Subject Test Note: - You are attempting question 4 out At year-end a trial balance prepared shows total credits exceed total debits by $855. This discrepancy could have been caused by An error in the general journal where an increase of $855 in accounts payable was recorded as a decrease of $855 in accounts payable. b. The ledger balance of accounts receivable was wrongly entered in the trial balance as 95 instead of $950. c. The ledger balance for accounts payable of $8,550 entered in the trial balance as $855. d. $855 increase in accounts receivable was recorded as a S855 increase in cash in general journal. a. Answer DA Oc Submit 8
Transcribed Image Text:10:31 AM experthiring.cheggindia.com/ Subject Test Note: - You are attempting question 4 out At year-end a trial balance prepared shows total credits exceed total debits by $855. This discrepancy could have been caused by An error in the general journal where an increase of $855 in accounts payable was recorded as a decrease of $855 in accounts payable. b. The ledger balance of accounts receivable was wrongly entered in the trial balance as 95 instead of $950. c. The ledger balance for accounts payable of $8,550 entered in the trial balance as $855. d. $855 increase in accounts receivable was recorded as a S855 increase in cash in general journal. a. Answer DA Oc Submit 8
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