Crusty Enterprise Trial Balance as at Dec 31, 2020 did not balance as the debit side is greater than the credit side by $5670. After investigation the following errors were revealed: i. The purchases...


Crusty Enterprise Trial Balance as at Dec 31, 2020 did not balance as the debit side is greater than the credit side by $5670.  After investigation the following errors were revealed:









i.                 The purchases figure included $2,480 which was paid for the purchase of motor vehicle.


ii.               Discount received of $1,680 was debited to the Discount received account.


iii.             Purchases was undercast by $860


iv.             Money received of $4,030 from J Blake was credited to his account as $3040


v.               Goods purchased as costing $230 from A Cornel was credited to B. Collins


vi.             Cash received of $2,180 was received from K. Kong had not been posted to his account.






Required:




  1. Prepare the journal entries to correct the errors.







Jun 09, 2022
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