If an accountant mistakenly uses the General journal to record a payment of cash for a bill that is due, instead of the Cash Payments journal, will this mistake cause the corresponding accounts in the General ledger to be off? Explain.
If an accountant mistakenly uses the General journal to record a payment of cash for a bill that is due, instead of the Cash Payments journal, will this mistake cause the corresponding accounts in the General ledger to be off? Explain.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter10: Cash Receipts And Cash Payments
Section: Chapter Questions
Problem 5QY
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If an accountant mistakenly uses the General journal to record a payment of cash for a bill that is due, instead of the Cash Payments journal, will this mistake cause the corresponding accounts in the General ledger to be off? Explain.
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