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Question
A trial balance taken at year-end showed total credits exceed total debits by $4,950. This discrepancy could have been caused by:A.An error in the general journal where a $4,950 increase in Accounts Receivable was recorded as an increase in Cash.
B.A net income of $4,950.
C.The balance of $49,500 in Accounts Payable being entered in the trial balance as $4,950.
D.The balance of $5,500 in the Office Equipment account being entered on the trial balance as a debit of $550.
E.An error in the general journal where a $4,950 increase in Accounts Payable was recorded as a decrease in Accounts Payable.
Answer
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Related questions
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