Error adjustments

janakG Registered Posts: 9
the question is what adjustment do you need to make to the SLCA?

the sales ledger column in the cash book - debit side was undercast by 100

why is the adjustment CREDITING 100?


  • thelowendtheory18
    thelowendtheory18 Registered Posts: 298
    It's understated payments received by customers ..therefore the amount that the customers OWES the business has been OVERSTATED

    To correct the error a credit entry is needed to REDUCE the debt that its customers owes

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