The adjustment for accrued fees was debited to Accounts Payable instead of Accounts Receivable. This error will be detected when the adjusted trial balance is prepared.

Question

Quizplus · Accepted Answer

The adjusted trial balance primarily checks the mathematical accuracy of the accounts and ensures that debits equal credits. It does not specifically identify whether individual transactions have been recorded in the correct accounts, such as distinguishing between Accounts Payable and Accounts Receivable.

The Adjustment for Accrued Fees Was Debited to Accounts Payable