Solution-Decrease in accounts payable

Decrease in accounts payable

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Reference no: EM131412514

At year-end, a trial balance showed total credits exceed total debits by $6,050. This difference could have been caused by:

A) The balance of $60,500 in Accounts Payable being entered in the trial balance as $6,050.

B) An error in the general journal where a $6,050 increase in Accounts Payable was recorded as a decrease in Accounts Payable.

C) A net income of $6,050.

D) The balance of $6,820 in the Office Equipment account being entered on the trial balance as a debit of $770.

E) An error in the general journal where a $6,050 increase in Accounts Receivable was recorded as an increase in Cash.

Reference no: EM131412514

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Decrease in accounts payable

Reference no: EM131412514

Reference no: EM131412514

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