Name the error which was made under the following circumstances: the business sold goods on credit for N$12 000. The bookkeeper recorded the transaction as Dr: Sales N$12 000; Cr: Accounts receivables N$12 000 O a. Error of complete reversal O b. Compensating error O c. Principle error O d. Commission error

Name the error which was made under the following circumstances: the business sold goods on credit for N$12 000. The bookkeeper recorded the transaction as Dr: Sales N$12 000; Cr: Accounts receivables N$12 000 O a. Error of complete reversal O b. Compensating error O c. Principle error O d. Commission error

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 4DQ: In a cash receipts journal, both the Accounts Receivable Credit column and the Cash Debit column...

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A £500 cash sale was entered as a debit in the sales account and a credit in the bank account. What type of error is this? Select one: A. Compensating B. Ommission C. Reversal of entries O D. Original entry E. Commission O F. Principle
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