During the month you purchased $12,000 of supplies on credit and $19,000 of equipment for cash.When you prepare a balance sheet,assets are $24,000 more than liabilities plus shareholders' equity.
A) You may have posted the increase in supplies as a credit rather than a debit.
B) You may have neglected to post the change in accounts payable.
C) You may have posted the increase in accounts payable as a debit rather than a credit.
D) All of the above would have resulted in the $24,000 error.
Correct Answer:
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