Accounting for IGCSE & O level - Accounting Procedures (Section 21 - No. 24)
If a sale of $300 was recorded in the sales journal, but the related entry to the customer's account in the sales ledger was for $30, what effect would this error have on the sales ledger control account balance?
The sales ledger control account will be understated by $270.
The sales ledger control account will be overstated by $270.
The sales ledger control account will be correct.
The effect cannot be determined.
Explanation
An error on one side leads to an incorrect balance.
Comments (0)
