A journal entry for a $270 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $520 and a credit to Cash for $270.Which of the following statements correctly states the effect of the error on the trial balance?

Question

Quizplus · Accepted Answer

The debit was recorded as $520 instead of $270, resulting in an excess debit of $250. The credit was correctly recorded as $270. Thus, the debits exceed the credits by $250.

A Journal Entry for a $270 Payment to Purchase Office