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Reversing entries?
An examination of the ledger shos this error:
The Service Revenue account was totaled at $5200 instead of $5280. How do I correct this on a T-account? Do I just add the 80 bucks or is there something else I can do, none of the research I have done has been able to help neither does my book!! |
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If all transactions were recorded correctly, and it's just a matter of this one T accct being incorrectly totaled, then (1) the trial balance should be out by 80; and (2) your approach of just changing the total of that one T acct by 80 should straighten everything out.
In other words, just change the total to what it would have been had it been added up correctly the first time. |
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