Bertrand Inc. performed services for clients in the amount of $1,600 on credit. If this transaction had been posted in error to the Cash account instead of the Accounts Receivable account, what correcting entry would be necessary? Multiple Choice Debit Accounts Receivable $1,600; credit Cash $1,600 Debit Cash $1,600; credit Accounts Receivable $1,600 Debit Accounts Receivable $1,600; credit Fees Income $1,600 Debit Fees Income $1,600; credit Cash $1,600

Question

Business

Kamryn Chen

26 January, 14:33

Bertrand Inc. performed services for clients in the amount of $1,600 on credit. If this transaction had been posted in error to the Cash account instead of the Accounts Receivable account, what correcting entry would be necessary? Multiple Choice Debit Accounts Receivable $1,600; credit Cash $1,600 Debit Cash $1,600; credit Accounts Receivable $1,600 Debit Accounts Receivable $1,600; credit Fees Income $1,600 Debit Fees Income $1,600; credit Cash $1,600

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Answers (1)

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Phoenix Miles · Answer 1

Accounts Receivable $1,600; credit Cash $1,600

Explanation:

According to the given situation, the Journal entry is shown below:-

Accounts Receivable Dr, $1,600

To Cash $1,600

(Being accounts receivable is recorded)

To record the accounts receivable we debited the accounts receivable and we credited the cash to correct the error.