" 500 due by Mr. Q was omitted to be taken to trial balance" what will be rectification entry in next year?
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Answer:
The rectification entry will be passing a rectification journal entry
Explanation:
Error of Ommission does not affect the Trial Balance and as a result of there is an Ommission for example 500 of Mr. Q it will be rectified by passing journal entry to the book of Mr. Q indicating that the transaction was ommitted.
Being omitted entry of 500 due by Mr. Q
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