he trial balance of Kelvin does not balance. Which TWO of the following errors could explain this, assuming that Kelvin maintains control accounts for its receivables and payables within the double entry system? (1) The sales day book was undercast by $100. (2) Discounts received were credited to sales revenue account. (3) An opening accrual was omitted from the rent account. (4) The debit side of the cash account was undercast. A (1) and (2) B (2) and (3) C (3) and (4) D (1) and (4) Please give solution with proper explanation
he trial balance of Kelvin does not balance. Which TWO of the following errors could explain this, assuming that Kelvin maintains control accounts for its receivables and payables within the double entry system? (1) The sales day book was undercast by $100. (2) Discounts received were credited to sales revenue account. (3) An opening accrual was omitted from the rent account. (4) The debit side of the cash account was undercast. A (1) and (2) B (2) and (3) C (3) and (4) D (1) and (4) Please give solution with proper explanation
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter10: Cash Receipts And Cash Payments
Section: Chapter Questions
Problem 4DQ: In a cash receipts journal, both the Accounts Receivable Credit column and the Cash Debit column...
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Which TWO of the following errors could explain this, assuming that Kelvin maintains control accounts for its receivables and payables within the double entry system?
(1) The sales day book was undercast by $100.
(2) Discounts received were credited to sales revenue account.
(3) An opening accrual was omitted from the rent account.
(4) The debit side of the cash account was undercast.
A (1) and (2)
B (2) and (3)
C (3) and (4)
D (1) and (4)
Please give solution with proper explanation
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