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.
- a. What accounts are affected?
4. Sales Discounts are understated in the T/B