In preparing the April bank reconciliation for Oscar Company,it was discovered that on April 10 a check was written to pay delivery expense of $45 but the check was erroneously recorded as $54 in the company's books.Which of the following journal entries would correct this error?

Question

Quizplus · Accepted Answer

Here,delivery expense was overstated by $9,which is the difference between the actual amount of the check of $54 and the amount recorded of $45,and cash was understated by the same amount.To correct this error,the company must increase cash (with a debit)and decrease delivery expense (with a credit)of $9.

In Preparing the April Bank Reconciliation for Oscar Company,it Was