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Hi my Dear Tutor I have a question relating to above headline.I have passed this paper but want to revise it and i have some question.
a page in the sales day book has been added up to 28415 instead of 28825
As we know that sales day book list out only sales on credit transactions
DID
debit receivable-28415
credit sales-28415should
debit receivable-28825
credit sales-28825correction
debit receivable -415
credit-sales-415it is undercasting error.
another question
a payment to a trader creditor has been entered into the purchase ledger control account and cash book as 1420 instead of 1240
did
debit purchase-1420
credit payable-1420
should
debit purchase 1240
credit payable -1240correction
debit payable-1240
credit purchase-120it is transposition error if it talks about trade creditor it should be purchase on credit inspite of saying cash book.
it is correct?
Correct for both (although if you have passed the paper I don’t understand why you are revising it, because it is not relevant for future papers 🙂 )
My Dear Tutor, I will have exam to EY that is why revising it to remember some forgotton parts
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