Multiple Choice Questions on Sales book is overcast by Rs 400 Rectified entry ndash ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Sales book is overcast by Rs 400 Rectified entry ndash ........

General Accounting Principles Rectification of Errors
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Sales book is overcast by Rs. 400. Rectified entry –

 Suspense a/c dr    400
     To sales                         400

Incorrect Answer
Sales a/c dr         400
To suspense                 400
Correct Answer

Cash a/c dr.         400
   To Sales                         400

Incorrect Answer

None of the above

Incorrect Answer
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Explanation:

If the sales are overcast that means it is over credited i.e sales are always credited and in this case it has gone over and above the required amount. So it has to be reversed and no other part of journal is given here.

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