A bookkeeper has debited an account for $3,500 and credited a liability account for $2,000.Which of the following would be an incorrect way to complete the recording of this transaction:
A)Credit another asset account for $1,500.
B)Credit another liability account for $1,500.
C)Credit an expense account for $1,500.
D)Credit the owner's capital account for $1,500.
E)Debit another asset account for $1,500.

Question

Quizplus · Accepted Answer

Debiting another asset account for $1,500 would not balance the transaction, as it would increase the total debits to $5,000, while the total credits would remain at $3,500.

A Bookkeeper Has Debited an Account for $3,500 and Credited