Presented below is a trial balance for the Rand Company at December 31.
The following transactions had not been recorded at 31 December.
1. Gave a credit of $1000 to a customer who returned damaged goods.
2. Sold goods on credit for $9000. The goods cost $6000
3. Purchased goods on account for $4000.
Determine the effect on the trial balance after these transactions have been posted and ensure that the trial balance is in balance.

Question

Presented below is a trial balance for the Rand Company at December 31.
  The following transactions had not been recorded at 31 December.
1. Gave a credit of $1000 to a customer who returned damaged goods.
2. Sold goods on credit for $9000. The goods cost $6000
3. Purchased goods on account for $4000.
Determine the effect on the trial balance after these transactions have been posted and ensure that the trial balance is in balance.

Quizplus · Accepted Answer

The Answer of Presented below is a trial balance for the Rand Company at December 31.
  The following transactions had not been recorded at 31 December.
1. Gave a credit of $1000 to a customer who returned damaged goods.
2. Sold goods on credit for $9000. The goods cost $6000
3. Purchased goods on account for $4000.
Determine the effect on the trial balance after these transactions have been posted and ensure that the trial balance is in balance.

Presented Below Is a Trial Balance for the Rand Company