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journal entry

This topic has 2 replies, 2 voices, and was last updated 13 years ago by Vipin .

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November 16, 2011 at 7:23 am #50519
Vipin
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write the journal entry for the error,
closing inventory at a cost of $2750 has not been recorded.
November 16, 2011 at 11:20 am #89871
keruanne1
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Debit inventory account 2750
Credit income statement 2750
November 16, 2011 at 7:43 pm #89872
Vipin
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that is my doubt, opening balance is on debit side and so closing balance should be on credit side of inventory acc.
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