a purchase of $303, paid by check and was recorded in both accounts as as a purchase of goods valued at $330. What is the journal entry?
![]() |
a purchase of $303, paid by check and was recorded in both accounts as as a purchase of goods valued at $330. What is the journal entry?
There's two ways to do it. You can either completely reverse the oringal entries and then record the correct entries or, you can just reverse the $27 difference so that the correct net amount of $303 shows in each account.
All times are GMT -7. The time now is 04:56 AM. |