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H3Ko H3Ko
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7 years ago
A journal entry for a $50 payment for rent expense was posted as a debit to Salaries Expense and a credit to Cash. Which of the following statements correctly states the effect of the error on the trial balance?
A) The sum of the debits will exceed the sum of the credits by $50.
B) The sum of the credits will exceed the sum of the debits by $100.
C) The sum of the debits will exceed the sum of the credits by $100.
D) The sum of the credits will equal the sum of the debits.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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