A 500 purchase of merchandise on account from lore company
1. A $500 purchase of merchandise on account from Lore Company was properly recorded in the purchases journal. When posted, however, the amount recorded in the subsidiary ledger was $50. How might this error be discovered?
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q1 on december 31 2014 rayco inc had the following balances all balances are normalaccountsamountpreferred
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1 a 500 purchase of merchandise on account from lore company was properly recorded in the purchases journal when posted
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the cash and the accounts receivable columns in the cash receipts journal were mistakenly over added by 4000 at the end
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