If a journal entry that contains an error has already been posted,
A)the journal need not be corrected but the posting to the ledger should be corrected by crossing out the incorrect data and writing the correct data above it.
B)the incorrect items should be corrected by crossing out the incorrect data and writing the correct data above it in both the journal and the ledger.
C)the incorrect items should be erased and replaced with the correct data.
D)a correcting entry should be journalized and posted.

Question

Quizplus · Accepted Answer

When an error is found in a journal entry that has already been posted, the best practice is to journalize and post a correcting entry. This ensures that the accounts are properly adjusted and that the financial statements reflect accurate information. Simply crossing out or erasing the incorrect data is not sufficient, as it can leave confusion and errors in the accounting records.

If a Journal Entry That Contains an Error Has Already