What correcting entry is needed


132 A $72,000 receipt of cash from a customer pa... A $72,000 receipt of cash from a customer paying on their account was recorded as a $72,000 debit to Accounts Receivable. Assuming this journal entry was posted, what correcting entry  is needed A.Debit Cash and Credit Accounts Receivable for $72,000 each B.Debit Cash and Credit Accounts Receivable for $144,000 each C.Credit Cash and Debit Accounts Receivable for $72,000 each D.Credit Cash and Debit Accounts Receivable for $144,000 each E.No correcting entry is needed for this transaction

Request for Solution File

Ask an Expert for Answer!!
Humanities: What correcting entry is needed
Reference No:- TGS0554048

Expected delivery within 24 Hours