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Home > Business & Careers > Accounting   »   Cash

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Old Dec 10, 2006, 04:18 PM
Mary_587
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Cash
Receipts from cash sales of $7,500 were recorded incorrectly in the cash receipts journal as $5,700. What entry is required in the depositor's accounts?

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Old Dec 10, 2006, 08:38 PM   #2  
CaptainForest
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So you recorded.

Dr. Cash 5,700
Cr. Sales 5,700

You should have done:
Dr. Cash 7,500
Cr. Sales 7,500

So to fix it, all you need to do is:
Dr. Cash 1,800
Cr. Sales 1,800
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