Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 45 - No. 49)
What entry is recorded on the company's books when a bank erroneously credits the company's account?
Debit Cash, Credit Accounts Receivable
No entry needed.
Debit Accounts Payable, Credit Cash
Credit Cash, Debit Miscellaneous Expense
Explanation
The company will only record a journal entry if the bank credit is an error.
Comments (0)
