Correcting entries Flashcards
1
Q
Payment of $80 for advertising was incorrectly debited to insurance.
A
Advertising (Dr) - $80
Insurance (Cr) - $80
2
Q
Invoice for $40, plus GST, was charged to B Andrews but should have been charged to P Andrews.
A
Acc. Rec. P Andrews (Dr) - $40
Acc. Rec. B Andrews (Cr) - $40
3
Q
Payment of $123 for petrol was recorded in the cash payments journal as $132.
A
Cash at bank (Dr) - $9 Petrol expense (Cr) - $9
