A Journal Entry for a $210 Payment to Purchase Office

question 74

Multiple Choice

A journal entry for a $210 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $550 and a credit to Cash for $210.Which of the following statements correctly states the effect of the error on the trial balance?

• A) The sum of the credits will exceed the sum of the debits by $340.
• B) The sum of the debits will exceed the sum of the credits by $210.
• C) The sum of the debits will exceed the sum of the credits by $340.
• D) The sum of the debits will exceed the sum of the credits by $550.

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Definitions:

Challenge And Skill

The balance between the difficulty of a task and an individual's capability to perform it, crucial for maintaining engagement.

Technical Skill

Proficiency or expertise in specific activities related to a field of work, particularly those involving methods, processes, procedures, or techniques.

Loyalty Of People

Loyalty of people refers to the steadfast allegiance and dedication individuals display towards other people, groups, or organizations.

Demonstrating

The act of showing or revealing characteristics, benefits, or methods through practical example or experiment.