Test page

ceo

Indicate which of the following journals should be checked to correct the mistake listed below:

1.       Purchases Journal

2.       Payment Journal

3.       Sales Journal

4.       Receipts Journal

 

1.       Bank Balance #1 is out by the same difference as Bank Balance 2.

2.       Bank Balance #1 is out by the same amount as Revenue from Services.

3.       Purchase discounts are understated in the T/B.

  1. a.       What accounts are affected?

4.       Sales Discounts are understated in the T/B

Unit 1-1 PowerPoint