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 common stock 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 debit side instead of balancing the credits.

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