Practicing Success
Rectify the error 'Cash sale to Anil of ₹10,000 posted as ₹1,000'. |
Sales account will be credited by ₹10,000 Sales account will be credited by ₹9,000 Sales account will be debited by ₹10,000 Sales account will be debited by ₹9,000 |
Sales account will be credited by ₹9,000 |
The correct answer is option 2- Sales account will be credited by ₹9,000. Cash sale is recorded in the cash book with the correct amount but posting is short by ₹9,000. As the sales is against cash so sales will be credited by ₹9,000. |