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Fast2F Fast2F
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7 years ago
Julie, a new employee, is not sure of the effect the following unrelated situations would have on the accuracy of the financial statements. Identify the account(s) that are affected and if the trial balance would balance.
a. Equipment was purchased for $1,000 cash. The debit was recorded properly, but the credit was omitted.
b. A debit to Cash for $250 was posted as $2,500; the credit was posted correctly.
c. A purchase of supplies on account for $50 was posted as a debit to Supplies and a credit to Cash.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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AugustisAugustis
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Fast2F Author
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#2
7 years ago
Correcttttt
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6 years ago
Happy to help Slight Smile
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