Journal debit entry to correct error
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DannyT90
Registered Posts: 158
In the CBT 2 practice exam it asks which things will be a debit or a credit in a Sales ledger control account. I knew them all except for one which was 'Journal debit entry for correction error'.
Why is this a debit in the SLCA? It would of helped knowing what the error was.
Can anyone shed light on this?
Why is this a debit in the SLCA? It would of helped knowing what the error was.
Can anyone shed light on this?
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Comments
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It would depend on the error.
Is there any further information?0 -
No, I had my unit 2 exam today and had the same question so luckily I knew what the answer was.0
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??0
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I'm assuming it's a debit because it was a correction involving the SLCA which was a debit entry e.g. Error of omission which required the SLCA being debited.0
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Yes.
However, others students will read this question hoping for an answer.
If, as you say, debtors have been understated - Dr SLCA.
If opening balances are understated, Dr SLCA.
Cr likely to suspense. Likely, but not always.
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