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?
the sales ledger column in the cash book - debit side was undercast by 100
why is the adjustment CREDITING 100?
0
Comments
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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 owesAAT
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