Journalizing a transaction with both the debit and the credit for $75 instead of the correct amount of $57 will cause the trial balance to be out of balance.

Name: Journalizing a transaction with both the debit and the credit for $75 instead of the correct amount of $57 will cause the trial balance to be out of balance.
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

Both the debit and credit entries are recorded with the same incorrect amount, so the trial balance will still balance.

Journalizing a Transaction with Both the Debit and the Credit