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Which answer below is the result of this error?

Which answer below is the result of this error?

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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Background On the 1st August 2021 a business collects $10,000 cash from providing a service to a customer on that day. The business records this correctly in the General Journal as: Debit Cash at Bank $10,000 Credit Services Revenue $10,000 Question The accountant mistakenly posts the above transaction to the General Ledger as: Debit Services Revenue $10,000 Credit Cash at Bank $10,000 Which answer below is the result of this error? Select one: O a. A Trial Balance generated from the General Ledger will be in balance. O b. The Services Revenue account will now be overstated. O c. A Trial Balance generated from the General Ledger will not balance. O d. The Cash at Bank account will now be overstated.
Transcribed Image Text:Background On the 1st August 2021 a business collects $10,000 cash from providing a service to a customer on that day. The business records this correctly in the General Journal as: Debit Cash at Bank $10,000 Credit Services Revenue $10,000 Question The accountant mistakenly posts the above transaction to the General Ledger as: Debit Services Revenue $10,000 Credit Cash at Bank $10,000 Which answer below is the result of this error? Select one: O a. A Trial Balance generated from the General Ledger will be in balance. O b. The Services Revenue account will now be overstated. O c. A Trial Balance generated from the General Ledger will not balance. O d. The Cash at Bank account will now be overstated.
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