An inexperienced clerk wrongfully entered the managers salary into the insurance account. The double entry would be?
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An inexperienced clerk wrongfully entered the managers salary into the insurance account. The double entry would be?
If the cost of servicing a company's car was debited to a non current account assets account instead of being debited to the motor expenses account?
First you need to reverse the original entry then your correct entry will be:
Debit Motor Expense and Credit Cash for the amount paid.
Or you can Debit Motor Expense and Credit the Asset that was originally debited for the amount paid.
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