Rectification of Errors

General Accounting Principles

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

Credit sales of Rs. 1,000 to X was recorded as Rs. 5,000. Rectified entry for the same is-

Sales a/c dr 1000
to X 1000

Sales a/c dr 4000
To X 4000

Suspense a/c dr 1000
To X 1000

Suspense a/c dr 4000
To X 4000

Correct entry -

X a/c dr 1000

to Sales 1000

Incorrect entry-

X a/c dr 5000

To Sales 5000

Rectified entry-

Sales a/c dr 4000

To X 4000