A payment of cash of ?20 to John was entered on the receipt side of
FINANCIAL
POST UTME UI
A payment of cash of ?20 to John was entered on the receipt side of the cash book in error and credited to John's account. Which of the following journal entries can be used to correct the error?
- A) John: ?40 Dr, Cash: 40 Cr
- B) Cash: ?40
- C) John: ?20 Dr, Cash: ?20 Cr
- D) Cash: 20 Dr, John: ?20
Correct Answer: A) John: ?40 Dr, Cash: 40 Cr
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *