Thiago is reviewing the books for Spare Bowling Supplies. He notices that the books are not balancing and finds a cash sale that was entered as a $50 debit to cash and a $5 credit to revenue. Based on this information we know that Thiago is most likely using a(n) ________ bookkeeping system.

Question

Quizplus · Accepted Answer

The error Thiago found involves a debit and a credit, which is characteristic of a double-entry bookkeeping system. In this system, every transaction affects at least two accounts to keep the books balanced, which is why the mistake stood out.

Thiago Is Reviewing the Books for Spare Bowling Supplies