Accounting for IGCSE & O level - Accounting Procedures (Section 9 - No. 42)

When the balance include due trade payables accounts for $449 and the purchases account have $400 more than they should have from $14,449 in the sorted balance, what is the entry for this error?

Debit Purchases Account

Credit Trade Payables Account

Debit Trade Payable Account

Credit Purchases Account

Explanation

Debit Trade Payable Account and Credit Purchases Account.

Accounting for IGCSE & O level - Accounting Procedures (Section 9 - No. 42)

Explanation

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