For Each of the Following Errors, Considered Individually, Indicate Whether

question 188

Essay

For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much.?
a. Payment of a cash withdrawal of $6,800 was journalized and posted as a debit of $8,600 to Salaries Expense and a credit of $8,600 to Cash.
b. A fee of $9,780 earned was debited to Accounts Receivable for $7,980 and credited to Fees Earned for $9,780.
c. A payment of $3,000 to a creditor was posted as a credit of $3,000 to Accounts Payable and a credit of $3,000 to Cash.

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Definitions:

Liability

The state of being responsible for something, especially in terms of legal or financial obligations that may arise from actions or transactions.

Discharged

Released from liability for a negotiable instrument.

Negotiable Instrument

A written, transferable document signed by the maker or drawer, containing an unconditional promise or order to pay a specified amount of money on demand or at a set time.

Material Alteration

A significant change or modification to a document or item that changes its legal effectiveness or meaning.