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

General Accounting Principles Rectification of Errors Add to Study Deck

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

Explanation:

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

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