Ask Question
17 July, 01:59

Payment of $99 for merchandise sold on credit for $100 subject to 1/10 n/30 was received within the discount period. This was recorded with a debit to Sales Discounts for $1, a debit to Cash for $99, and a credit to Accounts Receivable for $100, but no mention was made of the subsidiary ledger account. This error will cause the

+4
Answers (1)
  1. 17 July, 02:12
    0
    The error will be the : - control account to not agree with subsidiary ledger because the error says no adjustment were made to the subsidiary ledger account for the transaction.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Payment of $99 for merchandise sold on credit for $100 subject to 1/10 n/30 was received within the discount period. This was recorded with ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers