A Journal Entry for a $250 Payment to Purchase Supplies

question 62

Multiple Choice

A journal entry for a $250 payment to purchase supplies was erroneously recorded as a debit to Supplies for $520 and a credit to Cash for $250.Which of the following statements about the trial balance is TRUE?

• A) The sum of the credits will exceed the sum of the debits by $270.
• B) The sum of the debits will exceed the sum of the credits by $250.
• C) The sum of the debits will exceed the sum of the credits by $270.
• D) The trial balance will be in balance; the sum of the credits will equal the sum of the debits.

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Definitions:

Desmosomes

Strong cell junctions that anchor cells to each other in tissues subject to stretching, like skin and heart muscle.

Gap Junctions

Gap junctions are specialized intercellular connections that facilitate the direct transfer of ions and molecules between neighboring cells.

Striations

Parallel lines or grooves on a surface, often found in muscle fibers and certain crystals.