What about this statement:
A payment balance due to for $206 was credited to Cash for $206 and credited to account payable for $260

My thought was Minus $260 from Acc payable and +54 since its wrong amount entries but my answer is wrong it supposed to minus $260 and $206.. But I don't understand, why is it has to be minus to $206 instead of adding it on acc payable since it was credited on cash balance. Could anyone help me to explain this?
Thanks

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Originally Posted by isabella1001

What about this statement:
a payment balance due to for $206 was credited to Cash for $206 and credited to account payable for $260

My thought was Minus $260 from Acc payable and +54 since its wrong amount entries but my answer is wrong it supposed to minus $260 and $206.. But I don't understand, why is it has to be minus to $206 instead of adding it on acc payable since it was credited on cash balance. Could anyone help me to explain this?
Thanks

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What we are talking about is various types of error; transpostion errors as in 260 instead of 206 or posting errors as in negative credit instead of positive values, debit

the normal postings to accounts payable are credits in the case of creating a payable or debits in the case of making a payment so ;a payment balance due to for $206 means that a payment would be made from accounts payable a debit and credited to cash

Entry of ledger recorded in Trail balance and difference transferred to suspense a/c.