Question

A credit sale of old furniture to prem for 1700 was credited to the sales account

Answer 1

This is the problem of rectification of errors :-

Right entry is

Prem A/c. Dr. 1700

To furniture A/c. 1700

Wrong entry posted

Prem a/c. Dr. 1700

To sales A/c. 1700

To rectify this error we have to pass rectified entry

Sales a/c. Dr. 1700

To furniture a/c. 1700

Note:-sales a/c is credited wrongly, to remove this error sales a/c is debited.