he bookkeeper of Wilson Electric Supply, Inc recorded a $1.567 check as $15,670 in payment of the cu allowing journal entres is needed to adjust for this error in the books of the company? OA Rent Expense 15,670 Cash 15,670 OB. Cash 14,103 Sales Revonue 14,103 OC. Booking Error 1,567 Cash 1.567
he bookkeeper of Wilson Electric Supply, Inc recorded a $1.567 check as $15,670 in payment of the cu allowing journal entres is needed to adjust for this error in the books of the company? OA Rent Expense 15,670 Cash 15,670 OB. Cash 14,103 Sales Revonue 14,103 OC. Booking Error 1,567 Cash 1.567
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer both
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Transcribed Image Text:The bookkeeper of Wilson Electric Supply, Inc recorded a $1.567 check as $15,670 in payment of the current month's rent. Which of the
following journal entries is needed to adjust for this error in the books of the company?
O A. Rent Expense
15,670
Cash
15,670
B. Cash
14,103
Sales Revenue
14,103
O C. Booking Error
1,567
Cash
1.567
OD. Cash
14,103
Rent Expense
14,103
Transcribed Image Text:After closing entries have been posted
O A. only temporary accounts carry balances
O B. all temporary accounts will have a zero balance
O C. all permanent accounts will have a zero balance
O D. None of the statements are correct
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