Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 27 - No. 21)
What does an “error of original entry” involve?
Posting the debit side of an entry to the credit side of an account and vice-versa.
An incorrect amount is entered in the books of original entry.
Failing to record a complete transaction.
The transaction is recorded correctly but posted to the wrong accounts.
Explanation
An error of original entry involves recording an incorrect amount or details within the initial recording of the transaction.
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