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29.11 Alpha buys goods from Beta. At 30 June 20X5 Beta’s account in Alpha’s records showed $5,700 owing to beta. Beta submitted a statement to Alpha as at the same date showing a balance due of $5,200.
Which one of the following could account fully for the difference?
A Alpha has sent a cheque to Beta for $500 which has not yet been received by Beta.
The credit side of Beta’s account in Alpha’s records has been undercast by $500.
An invoice for $250 from Beta has been treated in Alpha’s records as if it had been a credit note.
Beta has issued a credit note for $500 to Alpha which Alpha has not yet received.
Hello sir
What effect will option 2 createIn Alpha’s records they will be showing themselves as owing $500 less to Beta than they should be showing.
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