The Bookkeeper Recorded a Payment on Account as $170 Instead

question 178

Multiple Choice

The bookkeeper recorded a payment on account as $170 instead of the correct amount of $710. What journal entry is required?

• A)Debit Accounts Payable for $710 and credit Cash for $710.
• B)Debit Accounts Receivable for $710 and credit Cash for $710.
• C)Debit Accounts Payable for $540 and credit Cash for $540.
• D)Debit Cash for $540 and credit Accounts Payable for $540.

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Definitions:

Metapathology

An overarching term for the study of the root causes and structures underlying mental disorders and pathological conditions.

Non-Self-Actualizers

Individuals who have not realized their full potential or reached the highest level of Maslow's hierarchy of needs, often due to unmet lower-level needs.

Procrastination

The action of delaying or postponing tasks, decisions, or actions, often due to avoidance of stress or discomfort associated with the task.

Self-Actualization

Fulfilling or actualizing one's potential and talents, viewed as a compelling urge or essential need within each person.