Question

Goods were returned to X.for 351 and his account was credited with 531. In the rectifying entry, his account will be debited with 882.

a. True b. False C. Cannot say d. None of these​

Answer 1

We are provided with an accounting transaction and we are asked whether the rectifying entry of his account will be debited with 882. The answer will be a. True his account should be debited with 882.

• Rectifying entries are the entries that are required to be passed in order to correct the mistakes that were made in the original entry.
• When goods are returned to X, X's account should have been debited with the amount corresponding to the goods returned.
• This is due to the golden rule of accounts that states that the person receiving the goods should be debited.
• Instead, his account was credited with an amount that was wrong.
• So to rectify this error both amounts are required to be added and then that amount should be debited.
• When we add 351 and 531 we get the amount of 882.
• Therefore, The answer will be a. True his account should be debited with 882.

#SPJ1

For similar questions view:

https://brainly.in/question/30347656

https://brainly.in/question/895641