Question

The purchase of Rs. 400 from Saran was entered into sales book but Saran's
personal account was rightly credited. Rectify the error by passing Journal entry.
Your answer​

Answer 1

Answer:

Correct treatment of transaction:

    Entry : Saran A/c                      Dr          400

                      to Sales A/c                                         400

But Saran's A/c was being credited by 400

Rectification :

Treatment:      Debit Saran's A/c with 800

      "Being Wrong credit given now rectified   - 400"

As it is one account error we have to record the above narration in Saran's A/c .

*Assuming rectification is done before preperation of trial balance.