Ajournal entry for a $220 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $500 and a credit to Cash for $220. Which of the following statements correctly...


Ajournal entry for a $220 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $500 and a credit to Cash for $220. Which of the following statements correctly states the effect of the error<br>on the trial balance?<br>O A. The sum of the credits will exceed the sum of the debits by $280.<br>O B. The sum of the debits will exceed the sum of the credits by $220.<br>O C. The sum of the debits will exceed the sum of the credits by $500,<br>O D. The sum of the debits will exceed the sum of the credits by $280.<br>

Extracted text: Ajournal entry for a $220 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $500 and a credit to Cash for $220. Which of the following statements correctly states the effect of the error on the trial balance? O A. The sum of the credits will exceed the sum of the debits by $280. O B. The sum of the debits will exceed the sum of the credits by $220. O C. The sum of the debits will exceed the sum of the credits by $500, O D. The sum of the debits will exceed the sum of the credits by $280.

Jun 11, 2022
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